Selling your home? Know when to take an offer - even if it is a Seller's market...

[Alan Asriants]

Whether you're in a buyer's market or a seller's market, it's crucial as a seller to understand the traction your listing is getting—and to know when to accept an offer or hold out for something better.

Many sellers in a favorable market want to hold out to maximize their gains. While that can be a smart strategy, it can also backfire. The key isn't just to know what kind of market you’re in—though that's certainly important—but to understand how well your specific listing is performing.

Typically, the first few days to a week are the most important time for a listing. This is when your property gets the most attention, especially if inventory is low in your area. Taking advantage of that early momentum is critical.

Many sellers hope for multiple offers—ideally above asking price—and while that's a great outcome, it doesn't always happen. It's important to know when to accept an offer and when to wait.

As a listing agent, I pay close attention to how much activity a property is getting. If we’re getting multiple showings per day and have future appointments lined up, I wouldn’t urge my clients to jump on the first offer—unless it’s significantly over asking with exceptional terms. In that case, I'd typically recommend waiting for another offer and then setting a deadline to allow all interested buyers a fair shot.

On the other hand, if a home has been listed for a few days with minimal or no showings scheduled—and a decent offer comes in—I would strongly encourage the seller to consider it. Even if the offer is slightly below asking, it may be in the seller’s best interest to accept it while the listing is still fresh and there's momentum. That early excitement fades quickly, and offers can dry up.

We recently experienced this firsthand. I was representing a buyer who submitted an offer roughly $7,000–$10,000 below asking. The seller pushed back hard and countered at full asking price. My clients scheduled a second showing but ultimately decided to move on and pursue other opportunities. While the property had many great features, things like low ceilings, a small basement, and being on a main road became more apparent compared to other options. That home was listed at $620,000—but after sitting on the market, it’s now listed at $540,000. Meanwhile, my buyers have already purchased another home.

So if you're a seller and you receive a solid offer with little to no activity on your listing, give it serious consideration. Holding out might seem like the better play, but you could end up losing far more in the long run.