away empty-handed after gaining your trust. By exercising patience, you can hold your position on terms and price.
KNOWLEDGE IS POWER
Information is crucial to real estate negotiations. If the buyer arrives at the negotiation with a fifty plus page inspection report filled with claims of "this is wrong and that is broken," you as the seller may feel a need to make significant concessions. The key here is knowledge. If you have ordered your own inspection and are aware of what truly is in need of repair/replacement, you are in a position to offset that fifty plus page report. If you can produce pre-ordered estimates of the cost for such items, you can negotiate from a position of strength. The more information a prospective buyer can glean from you, the more pressure 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 he feels in the negotiation. The more you can glean about why the buyer is buying, what they see as the USP of your home, and what their financial constraints are, the more you are in a position to offset that power.
POINTS TO REMEMBER:
• The more knowledgeable you are about your home, your market, and real estate terminology, the better prepared you’ll be to negotiate with buyers. • Make sure your price is based on solid research. • Be clear about your goals, your motivations, and the concessions you’re willing to offer or accept.
113
Powered by FlippingBook