NOT SPEAKING THE REAL ESTATE LANGUAGE
Knowledge extends to real estate terms, too. Don’t allow yourself to be dazzled by a buyer who is more fluent with real estate terms than you are. At the very least, study a glossary of real estate terms and do some research of the concepts you find confusing. A trusted real estate professional is always a good place to start. Remember, knowledge is power. What are the main objectives you want or need to accomplish with the sale of your home? Are you downsizing for retirement? Dealing with a divorce settlement? Moving out of the area for a job opportunity? Is it more important to make money or to close on a deal quickly? A thorough understanding of your goals will help you focus on what’s important in a real estate negotiation. You’ll have a better idea of which terms to seek, which concessions you’re willing to accept, which information to share with the buyer or buyer’s agent, and which information to keep “close to the vest.” Are you a motivated seller? Are you susceptible to pressures that would make you consider a lowball offer? Or do you have a plan to stay on course to reach your broader financial goals? Consider the factors that might motivate you to make uncomfortable concessions: NOT BEING CLEAR ABOUT YOUR GOALS
• Time on the market
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