Also, finding the right buyer can be mentally and emotionally exhausting. Knowledgeable buyers can — and often do — push you to the limit to get the price they want, especially if they sense that you’re desperate.
When the Competitive Pressure Is On
When facing an informed buyer, remember that the one with the most options will win the negotiation. The buyer might have researched your property’s history on the market. If the property’s been on the market a while, the buyer could assume you’re desperate to sell and willing to take an offer. If the buyer has found out that you’ve got something personal going on, they might try to leverage that fact by playing to your emotions to get the deal they want. On the flipside, if the buyer thought you had three other buyers waving higher offers, they would have to raise the offer, or walk away. Always remember that it takes two to make a deal, and always trust your gut. Sharpen your senses to know when a buyer doesn’t have other property options. Perception plays a big role in negotiations! If an interested buyer thinks you have rejected offers higher than his, you have the upper hand, and he might feel pressured to offer more. It’s also possible that the buyer will let you know that yours is not the only home in which they’re interested to pressure you to accept their asking price. The key to being a power negotiator is to stay calm and focused during the process to avoid costly mistakes. Knowing your buyer’s motivation — without exposing your own — will give you the edge to win.
51
Powered by FlippingBook