CHAPTER 12 The Bargaining Table
If you have teenagers, you’re already good at negotiating everything from screen-time to curfews. That experience will help you handle your most important FSBO task—negotiating the contract. Give yourself a good talking-to before you begin negotiating an offer. Make sure you’ve priced your home realistically in line with comparables and your local real estate market. Remain flexible and realize you won’t get everything you want. If a buyer points out flaws in the property you didn’t know, adjust your expectations.
At the beginning, clearly state your timeline for offers:
• When offers are due, especially if you expect to get multiple offers. • When offers will be reviewed. • When buyers will receive a response.
TYPICAL NEGOTIATION MISTAKES
Negotiating a home sale likely is the biggest deal you’ll ever make. First-time FSBOs can go into a full-scale panic attack when they finally get an offer—even at full listing price.
Here are some tips that will make the negotiating process easier.
• Build a relationship first. Try to understand a buyer’s motivations, timelines, and financial situation—vital 68
Powered by FlippingBook