Discuss each of these options with your listing agent before agreeing with a buyer on any incentives and concessions. This is another area where it is important to work with a qualified real estate agent and to ensure you are on the same page, working as partners during negotiations. NOTE: There may be restrictions placed on the real estate agent because of agency laws. There are also lender limits on buyer credits, and they must be properly disclosed, so be sure to stay within the limit of the laws.
Key Takeaway:
The more informed you are about your home, the market, and real estate terminology, the better prepared you’ll be to negotiate with buyers. Be clear about your goal of downsizing, and the concessions you’re willing to accept to get there. Don’t let your emotions or ego cloud your judgment, which could compromise your negotiating position. To secure a sale, be prepared to offer bargaining chips, such as equipment, appliances, or services, or offering to help with items like closing costs or property taxes. Learn to anticipate buyers’ needs and requests, and familiarize yourself with the factors most likely to give the buyer second thoughts.
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