this tactic to push you into accepting progressively lower offers without a counteroffer from you and your agent.
DO LEARN WHAT MOTIVATES THE B TES THE BUYER
Sometimes, buying agents will seek to understand why you want to sell your home. Agents know that sellers prefer to go to escrow only once. If the buyer is advised to insist on a lower price due to minor defects found during a third-party home inspection, they will use this as a negotiating tactic. More importantly, a buyer's agent may encourage their client to offer the asking price, knowing that minor flaws exist, only to later request reductions to lower the final sale price. Now that you are aware that situations like this can occur, don’t let the process of selling your home exhaust you. Don’t compromise your time and effort to keep things moving in escrow. Your listing agent should recommend a home inspection before you list, to avoid complications during negotiations.
DON'T FREELY GIVE OUT YOUR INFORMATION
If you have several offers on your home, the price isn't always the most important factor. Sometimes what you communicate to the buyer can influence their offer. For example, let’s say you have two interested buyers. One buyer offers the full asking price, thinking that you will readily accept, but tells you she needs a few months to get financing finalized or to get inspections. The other buyer offers $10,000 less than your asking price but agrees to close quickly without any financial or inspection contingencies. While the first buyer offered more money, the second buyer was more appealing time-wise. If you were under a time constraint, the second buyer solved your problem.
82
Powered by FlippingBook