CHAPTER 13 The Dos and Don'ts of Negotiating
Selling your home is a business transaction. While it can be a multi-layered process that feels personal to you, it is simply a buyer negotiating to purchase a seller’s home for an agreed-upon price. As a seller, you must keep this fact in mind. Opinions, emotions, and ego may try to derail your efforts; don’t let them. The more you know about negotiating, the less likely you are to create a needless detour during the sale process.
DO LET THE BUYER SPEAK FIRS EAK FIRST
Allow patience to guide you when engaging with an interested buyer. Don’t rush to reveal what you’re willing to accept; it may be lower than what the buyer is prepared to offer! Like any sales transaction, buyers have a price in mind, even if it’s for a lawn mower at a yard sale. They may be willing to pay $200 for the mower, but when they ask, you say $125. Don’t forfeit the advantage of being able to counteroffer. Let the buyer speak first. That’s why it’s called an offer. It will either be an offer you can accept, or you’ll at least gain more insight into what price the buyer is considering.
DON'T “MEET IN THE MID T IN THE MIDDLE”
In even the simplest sales transactions, agreeing on a price often involves “meeting in the middle.” For example, a buyer might start by offering $150 for an item, while the seller expects to sell it for $200. Typically, most sellers will split the difference 80
Powered by FlippingBook