low-ball offer cause you to respond with an above-listing price counteroffer. In fact, keep your emotions at bay during the entire showing and negotiating process. Hard as it might be to keep your mouth shut during the greater part of home-showing and price-negotiating, make use of a technique called “negotiating silence” to keep negotiations on track for you. For instance, there will be times of discomfort during negotiations, whether in coming to terms on a price or conditions of the sale (the bargaining chips like an electric box upgrade or leaving/not leaving 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 too could 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 occurring between experienced negotiators, the more informed party is the most likely to walk away with the better outcome. Think in advance of different scenarios you might encounter in 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 deducts 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.
74
Powered by FlippingBook