When Competitive Pressure is On When dealing with an informed buyer, remember that the party with the most options has the upper hand. For instance, if a buyer perceives you have multiple offers, they may be more inclined to increase theirs. Conversely, a buyer who knows you’re under pressure may use this information to push for a lower price. Perceptions influence negotiations: • If a buyer believes you’re rejecting higher offers, they may offer more. • If a buyer mentions interest in other homes, it may be a tactic to apply pressure. The key is to stay calm and focused. Know your buyer’s motivations without exposing your own. Remaining composed helps you avoid costly mistakes and maintain control of the negotiation. Let Time Be on Your Side Time is a powerful tool in negotiations. Buyers often leverage time-sensitive situations to their advantage. For example: • Foreclosure or Financial Pressure: Buyers aware of a seller’s financial challenges may make low-ball offers. • Prolonged Market Presence: A home that’s been on the market for a while may lead buyers to believe the seller is desperate. By staying patient, you can reduce the buyer’s perceived leverage. Buyers may invest time building rapport and trust, which can make them less likely to walk away. Use this to your advantage by sticking to your terms and maintaining your position. Knowledge is Power Information is the cornerstone of successful negotiation. The more a buyer knows about your situation, the more leverage 48
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