What should a real estate agent do when they receive a lower offer than the asking price?

When a real estate agent receives a lower offer than the asking price, countering the offer with a higher price is often the most appropriate and strategic response. This action engages the buyer and allows for further negotiation, demonstrating that the seller is still interested in selling the property. Countering the offer opens the door for discussions about the property's value and may result in an offer that is closer to the asking price.

This method also reflects the common practice in real estate transactions, where negotiation is a key component. It allows both parties to communicate their expectations and potentially reach a mutually agreeable price. By countering, the agent can gather more insight into the buyer's willingness to negotiate and can also gauge the market interest in the property.

Other responses may miss important negotiation opportunities. Simply rejecting the offer outright would close off any potential for further discussion, while accepting a lower offer immediately could mean leaving money on the table. Additionally, contacting multiple buyers for their opinions does not directly address the current offer and may prolong the decision-making process unnecessarily. Thus, countering the offer is a proactive approach that keeps the negotiation alive and seeks better terms for the seller.