Stealth Price Cut
What does it mean when a listing agent puts out the word — on MLS or just verbally — that their Seller “will consider all offers?”
Here is a rough translation: a) the Seller knows that the current asking price is high; b) but for perceived negotiating leverage, they don’t want to reduce it; so . . . c) please feel free to make an offer well under the asking price.
Surprise, surprise . . . many prospective Buyers go ahead and do exactly that.
Which is why I’m not such a big fan of the strategy.
Rather than elicit offers as much as 25% below their current asking price, Sellers are usually better advised to do a smaller, incremental price cut; test that in the market for a period of time; then assess and repeat as necessary.