Dear David,

A few weeks ago we listed our home and saw very little activity out of the gate. We dropped the price from $520,000 to $500,000 and started getting showings immediately. We received an offer a week ago. The terms included a one-week condition for a home inspection and the sale of the buyers’ property. The inspection has been completed, but the buyers are requesting a few extra days to firm up the sale of their home. Other people have requested showings, should we grant the extension and continue working with the buyers we have, or move on and see if a stronger, firm offer comes along? – UNSURE

DEAR UNSURE: You’re seeing how small pricing decisions can impact the sale of your home. Dropping your price from $520,000 to $500,000 may feel minor, but it’s significant in today’s market. Prices trigger emotional reactions, and also affect the online filters buyers use in their home search. On platforms like Realtor.ca, searches tend to be set in increments (for example, “up to $500K”). If your home is priced at $500,001, you immediately lose every buyer searching for homes up to $500K, which means a large pool of active buyers never see your listing. In this case, a $20,000 price drop was actually a strategic repositioning that exposed your home to a new segment of the market; the increase in activity proved the move was effective.

Now you need to separate activity from results. An increase in showings is encouraging, but showings are not offers. You currently have a buyer who has stepped forward, invested time, completed an inspection, and is clearly committed to purchasing your home, which is no small thing. The only remaining condition is the sale of their property, and they’re asking for a few extra days. This is a common situation, and often part of getting a deal across the finish line. 

The key question isn’t “could something better come along?”, it’s “how strong is the opportunity already in front of us?” Right now, you have a buyer who likes your home enough to make an offer and completed an inspection with no issues. The deal is largely complete pending one final condition, and letting go of this buyer brings the uncertainty of starting over, with no guarantee your next showing will turn into a better offer – or any offer at all. 

From here, I recommend a balanced approach: grant a short and clearly defined extension, while continuing to allow showings. If another strong offer comes forward, you may be able to apply pressure or revisit the terms. In most cases, when a committed buyer is this far along, it’s worth giving them a reasonable opportunity to complete the process. In real estate, the goal isn’t just activity, it’s the completion of a successful sale, and you are already closer than you think.

Pro Tip: Focus on your BATNA (Best Alternative to a Negotiated Agreement) rather than letting emotions get the best of you. If this deal falls apart, you’ll be forced to start over and have no guarantee of getting the same price or terms. Right now, you have a committed buyer who has done the inspection and is working to close the sale, so think twice about walking away while there is still a viable deal on the table. Sometimes the best move is to finish what’s already in front of you. #Advice #AskDavid #TheNegotiator 

David is a top-selling Broker in Kitchener-Waterloo Region. He works personally with you when selling or buying your home. Moving? Get it right. Ask David today! Call or text 519-577-1212.