DO GET THE LAST CONCESSION
Remaining calm and focused during each round of counteroffers is the key to getting the last concession. By asking the buyer to give something in return every time they come back with another request, they will start backing away from making nonessential demands rather than deal with the same thing coming from you. The less they think they can get, the less they will ask for beyond what they really need. They may be afraid you will request a concession that is important to them and come to the conclusion that letting you have the last concession will be in their own best interests.
DON’T LET THE BUYER FLOOD YOU WITH CONCESSIONS
When a buyer submits an offer to you, unless it’s a fantastic one, you should bring counteroffers to the table. Perhaps a different price and/or concessions—such as shorter closing dates, terms, modifications of contingencies, or incentives—will enter the negotiations. When reviewing the offer, be sure to consider items that would be unacceptable to you. A counteroffer is used to accept some (or most) of the terms of the buyer’s latest offer while modifying other items. Since there is no limit to the number of counteroffers that can be made, make sure the buyer has to wait for your response. Your eagerness to respond may be interpreted as desperation, which, in turn, may give the buyer more leverage.
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