“negotiating silence” to keep talks on track for you. For instance, there will be times of discomfort during negotiations, whether in coming to terms on a price or the conditions of the sale (such as bargaining chips like an electric box upgrade or deciding whether to leave or not leave appliances, etc.). It is hard to stand and listen to a buyer “picking” at your home to justify offering as little as might bring about the sale. If you are uncomfortable, the other party may also feel the same way. During that moment, let a negotiating silence prevail. Most people will fill a conversation void; this is when concessions may be had. The outcome of this situation could be that the other party will weaken and make a concession to break the uncomfortable silence. You may get a better deal, or at least learn something useful.
Stay Well Informed
In 95% of negotiations between experienced negotiators, the party with more information is more likely to achieve a better outcome. Consider various scenarios that might arise when selling your home. For instance, if the house has a worn roof, that might be expected to be a “bargaining chip.” The uninformed buyer might “guesstimate” that a new roof will cost $15,000 and deduct that from his offer. However, having seen the issue coming, you have a written estimate that a new roof will cost $9,000, and you counter by offering to decrease the price $4,500, thus splitting the cost of a new roof. Having the information provided an advantage in negotiating.
When to Lower or Pull Out
Newly listed properties are likely to attract the most lookers. If showings were adequate, however, and you did not receive any offers over the first three weeks of listing your home for sale, you must reflect on the possible reasons. The price is likely the reason, and it may be an indication that you need to lower it. As
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