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I got an offer last night, the same day I listed. I'm not sure what to do, and I really think my realtor listed way too low. Thoughts and opinions? (long)

I have to respond to an offer by 1pm today (6hrs), it is my first offer and was sent last night just a bit after the first showing.

I am both excited and taking pause. Which I am probably stupid for doing but the situation raised a few questions. And I wanted to get some real input on it here.

First of all obviously the market is heading towards stagnation. So at this point selling off a home is probably a good idea regardless. But my Realtor (a niece of a good friend) seemed not to be very familiar with my area. And I kind of got stuck due to my mom "knowing" this person. This situation is a bit different due to having the deed transferred to me by my grandmothers estate, and my mom has been involved and helpful with the house. So whatever at this point.

But the Realtor came in and listed the home at 320k, with the reasoning that "we can let the buyers push up the price". This alone made me a bit anxious but I am not a realtor obviously. And I was curious if this has been a normal procedure lately?

Anyhow the offer was for 335k, at first I was blown away but then got me thinking a few things. One did she list it too low? Is the house actually worth much more? Or are people just walking into places and throwing out higher offers?

Also from a buyers perspective, why would you just not pay what people asked? I mean the person wants 320... offer 320. If you end up in a bidding war at least go up to your cut off. So as mentioned is the house worth more, or are people still rushing to find anything and get it locked down?

Comp wise there much, the houses are old and unique. There was only one with the same elevation that was listed at 340k. But it hasn't closed yet and she couldn't get the price out of the realtor (which she said was normal). However this house was fully updated, mine is not. Although I have a extra full bath.

So really I am hoping to get some feedback on if I should just hold my breath and jump. Mostly due to the interest rates rising weekly, and the market slowing. Taking into consideration I might be taking a hit? Or should I wait and hope for better offers? Again though... it's at 320...

I really appreciate any insight / advice that you guys can give! And I will be speaking to my Realtor soon, but kind of want to know a bit more via others prior.

Thanks, and sorry this is so long.

submitted by /u/TheOrionNebula
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source https://www.reddit.com/r/RealEstate/comments/u9cveq/i_got_an_offer_last_night_the_same_day_i_listed/
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