For example, if a buyer knows a seller is in foreclosure and must sell before losing the property, the buyer has the upper hand. He knows the seller is under a time constraint and will use that, making low-ball offers or perhaps appearing indecisive or by not promptly returning calls and messages. Buyers look for time-sensitive situations to push their offered price. Sellers who are behind on mortgage payments, recently retired or are under contract for another home dependent on this home sale are candidates for high-pressure tactics from savvy buyers. Buyers may come to you and ask questions to find out if any of these situations apply to you. Eagerness to please them may be read as desperation. For these reasons, it is always best to work with a real estate professional and let them help you negotiate the best possible outcome. Buyers also play the waiting game. In real estate, acceptance time can be a powerful tool in price negotiations. From their perspective, the longer the house has been on the market, the more flexible the seller will be. The same applies to negotiations. The more they stretch out the time spent in negotiating the sale, the more likely they will get the price they want.
KNOWLEDGE IS POWER
Information is the key to real estate negotiations. The more information a buyer can glean about you, the more likely they are to use that information to their advantage. 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 he/she is at negotiating. Don’t avoid questions. However, remember this is a professional transaction between strangers. Don’t be unnecessarily forthcoming and always work through a licensed real estate
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