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Many of my clients often ask me whether they should respond to an offer right away or wait until they receive additional offers.
The truth is that this depends on price range, activity, and the offers themselves. In Las Vegas, homes priced at $250,000 or less are receiving a lot of activity. Multiple offers are not uncommon in situations like these.
Let’s say you put your home up on the market on a Friday and receive an offer immediately. In this case, some clients may choose to hold out in case of other offers since there is still ample opportunity for further activity.
This might not be a bad idea. If you are in this lower price range, you may want to wait until multiple offers have come in.
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The longer a property is on the market, the less activity you will receive.
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However, the number of offers you will get largely depends on the price range.
Bidding wars and multiple offers are far less likely in higher price points. If you receive an offer right away in a higher price point, you should probably at least consider it.
In any price range, you get the most activity when your home has just gone up on the market. The longer a property is on the market, the less activity you will receive.
Regardless of factors like price range and activity, I always recommend that clients at least respond to an offer.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.
