Property news: Do I accept?

Property for sale
Property for sale
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As a seller – the excitement and relief of getting that first offer on your property is immense.

But after the initial jubilation there may follow an element of doubt. It’s the first offer – should you accept it?

While many sellers may be tempted to wait for a better offer, particularly if they have only recently put their house on the market, the advice from estate agent Harrison Murray is that if you have chosen your agent carefully, trust their advice and accept.

Head of estate agency for Harrison Murray and The Nottingham, Su Snaith said: “The most important part of the whole property selling journey is choosing your agent wisely in the first instance.

“Trust in their professional advice, particularly when it comes to being realistic over pricing. It is, after all, their reputation that’s at stake.

“Your agent should be fully aware of what is happening in the market locally, and as the expert should be able to advise you on the most realistic selling price.

Su added: “There are agents who will deliberately over-value a property, which leaves the seller feeling uneasy about accepting an offer that doesn’t match the valuation or expectation. Naturally, as a seller you want to get the best possible price for your most valuable asset.

“Realistic pricing – agreed between the seller and agent – will achieve a positive outcome for both parties. While many sellers may be tempted to ‘hold out’ for a better offer, I believe that a reasonable first offer needs serious consideration and means sellers have a clearer idea of how much they can afford to spend on their next purchase.

“That said, it doesn’t mean that a first offer - if it’s way below the asking price - should be accepted without negotiation, and a good agent will always attempt to extract the best price from the buyer.”