DO KNOW WHAT MOTIVATES THE BUYER
Sometimes buying agents will work to learn why you want to sell your home. Agents know that sellers want to go to escrow only once. If the buyer is advised to demand a lower price because of minor defects discovered during a third-party home inspection, they will use this as a negotiating tool. More importantly, an agent for the buyer may advise their client to offer the asking price in full knowledge that minor flaws exist, only to later demand reductions and bring the offer down to what the buyer actually wanted to pay in the first place.
DON’T FREELY GIVE OUT YOUR INFORMATION
If you have multiple offers on your home, the price isn’t always the bottom line. Sometimes, what you tell the buyer is advantageous to their offer. For example, let’s say that you have two interested buyers. One buyer offers full asking price but tells you they need a few months to close in order to get financing or complete inspections. The other buyer casually asks why you are selling, and you offer crucial information that leads them to offer $20,000 less than your asking price—but agree to close quickly, without any financial or inspection-related contingencies. While the first buyer offered more money, the second buyer was more appealing, time-wise. If you were under a time constraint, the buyer solved your problem. How did the buyer know about the time constraint? You may have unwittingly disclosed it in an earlier casual conversation when they asked why you were selling.
89
Powered by FlippingBook