CHAPTER 13 The Dos and Don'ts of Negotiating
Selling your home is a business transaction. Although it may be a many-layered process that appears more personal than business, at its heart, it’s simply a buyer negotiating to purchase a seller’s home for an agreed-upon price. You as a seller must keep this fact in mind. Opinions, emotions, and ego may attempt to derail your efforts; don’t be the transgressor. The more you know about negotiating, the less likely you are to create a needless detour during the sale process. DO LET THE BUYER SPEAK FIRS EAK FIRST Let patience be your guide when dealing with an interested buyer. Don’t be anxious to tell him or her what you’re willing to accept; it may be lower than the buyer was willing to offer! Like any sale transaction, buyers have a price in mind, even if it is a lawn mower at a yard sale. They might be willing to pay $200 for the mower, but when they ask, you say $125. Do not lose the advantage of being able to counteroffer by revealing your offer first. Let the buyer speak first. That’s why it’s called an offer. It will either be an offer you can accept — or you will at least have more knowledge about what price the buyer has in mind. The exception to this advice may be as in time, when I have seen the market slow down. It may be necessary to do what we call a “reverse offer” to a buyer who has shown an interest but has not yet made an offer. This is advised to get it sold and to avoid having the buyer just wait until something comes on the market 86
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