Buyers will invest time with you to create relationships, trust, and willingness on your part to agree to their terms. The advantage that may arise for you is that they may not want to walk away empty-handed after gaining your trust. By exercising patience, you can maintain your position on terms and price.
KNOWLEDGE IS POWER
Information is the key to real estate negotiations. The more information the buyer can glean from you, the more pressure you may face. The more knowledgeable will overpower the less informed at the bargaining table. The more insight the buyer has into your motivation to sell, the more powerful he or she may be at negotiating. If your buyer has a full time real estate agent representing them, and you don't, you are going to be at a disadvantage, trying to negotiate with a full time negotiator. This doesn't mean that you should avoid questions. That can back-fire. You may be perceived as being deceptive or trying to hide something. Don’t be unfriendly or uninterested. However, remember this is a professional transaction between strangers, and don’t be unnecessarily totally forthcoming, either. It is a fine balance to achieve. When the buyer asks what appears to be a tough question that may relate to an offer, she is looking for direct answers and your reactions. Stay professionally reserved and avoid showing anxiousness to sell. A simple but effective technique for handling a tough question without giving out information is to answer with another question. If you are asked if your home has been long on the market, simply answer imprecisely, e.g., “Not long.” Then calmly ask the shoppers how long they have been looking. Their answers may empower you with information about their own stress points.
96
Powered by FlippingBook