Information is crucial to real estate negotiations. The more information the buyer is able to glean from you, the more pressure s/he can exert. The more knowledgeable side will overpower the less-informed at the bargaining table. The more insight the buyer has into your motivation to sell, the more powerful s/he feels in the negotiation. Don’t be afraid to answer tough questions. When the buyer asks them, s/he will be looking for direct answers and your reactions to his/her questions. Any reluctance on your part will show the buyer a lack of confidence. The best way to handle a tough question, without giving out too much information, is to answer with another question. If they ask you if your home has been on the market long, simply answer imprecisely, e.g., “not long,” then ask them how long they have been looking. Their answers empower you just as much as your vagueness weakens them. When asked why you are relocating, answer with vague reasons such as downsizing or eliminating stairs. You don’t need to reveal you are selling after a divorce. In order to learn if you have any time constraints, a buyer may ask how soon you want to move. Tell them you’re flexible, even if you would really like to move immediately. Next, it’s your turn to ask them questions. Directing the question back to the buyer maintains your control of information. The price you paid for your house does not have any bearing on the current market value, so if the question comes up, simply smile and tell them you won it on a bet. Facing questions on the pricing of your home shouldn’t be difficult if you have put serious effort into your asking price. If you based it on professional market value estimates, tell buyers that. Don’t forget to point out recent sales of comparable homes and the improvements you’ve made. Competitive offers from other interested buyers is a constant concern for a home shopper. They may ask you about this, and you can always tell them there is interest, but nothing on paper.
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