Selling your property can be stressful, especially when it's hard to predict how it will turn out. Many sellers find themselves having a hard decision to make when an offer comes in strong but might not be as high as hoped or expected.

Do you accept the offer? Or do you wait for a better one? Here at Lands, we have answered some questions to help you decide.

Does the offer reflect the current market conditions?

Unless you’re in an urgent position to sell your property, you should not accept an offer that is lower than what your property is worth.

The current market conditions will be a key factor in your choice. If your agent believes the offer is a good one, they will be able to let you know. Your agent will be familiar with the market conditions and price trends in the area, and they may use this information to provide you with a fair assessment.

Who is buying right now?

Due to the high demand in some areas of Australia, there is a chance that another, superior offer will be made after a new house becomes available. Additionally, it's possible that an international buyer will see the property online and submit an offer through a buyer's agent (depending on where your home is located).

Your agent will inform you if there is an excess of interest in properties in your suburb due to their close relationships with present buyers. In this situation, trying to hold out might be worthwhile.

What’s your next move?

The offer you accept should allow you to move forward. Think about the market conditions and level of competition in the area where you plan to purchase. This may influence whether you choose to accept an offer.

It may be simpler to accept a lower offer if you are upsizing in a slow market because the person you buy from might also be in a similar situation. However, if you're downsizing, make sure your choice will result in the financial windfall you're hoping for.

What does your agent say?

You must determine what to do next if you choose to reject the initial offer made on your property. To enhance the next offer price, discuss with your agent how to make your home more enticing.

Agents will have many suggestions on how to attract quality offers. Maybe some styling or a minor visual improvement will be the difference.

Having said that, a dependable, knowledgeable agent will be truthful about the offer you receive. If they think it is reasonable and the best you can receive, they will explain why so you may decide whether to accept it with full knowledge.