The seller’s secret weapon – the reverse offer

With days on market increasing, agents know that they may need to get a little more creative to sell a property, especially in instances where inventory is high.

So what could be your secret weapon as a seller to get your home sold? It’s the reverse offer, or seller- initiated offer.

In a reverse offer the seller makes an offer to a prospective buyer, outlining the price and terms they will accept.  It’s just like a regular offer, except that the seller makes the first move, not the buyer. The contract is the same as if the buyer were drawing up the offer, it’s just that the seller initiates the deal.

A seller may choose to present an offer to a buyer for several reasons; it can get the attention of the buyer, is a great way to test the buyers’ seriousness about the property, and ultimately it is a fantastic way to encourage action on the buyers’ part.

The reverse offer can be particularly helpful if a buyer has seen your property and expressed interest, but not submitted an offer.

This is definitely a roll reversal from what most buyers expect, but it’s a move that could help you beat the competition.

For more information about selling your home, check out our seller information page here.