COMMON NEGOTIATING MISTAKE #6: FAILING TO TAKE TIME ON THE COUNTEROFFER
You will often be pressured to reply right away to an offer. Buyers are impatient, and, if they really like your house, they will want an immediate answer. But do you know what else that means? They are probably willing to pay more for your property. Take the time to think, and consider consulting a real estate expert. Have you been able to find out any information on the buyers? Use that to put yourself in the buyer’s shoes. A little space and an objective third party will lead to more effective decision- making.
POINTS TO REMEMBER:
• Try to discover the buyer’s motivation, while not talking too much about your motivation to sell. • Never automatically meet in the middle. • Don’t let your ego interfere with negotiating. • Avoid making the first move on price. • Lowball and take-it-or-leave-it offers are rarely firm and can often be negotiated upward. • Don’t be pressured into hasty decisions or counters.
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