Buyers look for time-sensitive situations to put the pressure on and really push their price. Savvy buyers (and their agents) specifically target sellers who give the impression of time constraints or release that information inadvertently — or the buyers find out another way. Homeowners in time-pressure situations include sellers in foreclosure, sellers behind on mortgage payments, sellers under contract for another home, sellers who are recently retired, and, yes, sellers who are downsizing. Buyers might come to you and ask questions to find out if any of these situations apply to you. Eagerness to please might be read as desperation. Let time be your friend. Even if you truly do need to speed up the downsizing process, you don’t need to show it. Remain level-headed. Yes, buyers do want to learn as much as they can to leverage that information at the negotiating table so that you agree to their terms and price. But your advantage is that the relationship is a two-way street and they might not want to walk away empty-handed after gaining your trust. By exercising patience, you can hold your position on terms and price.
THE DOS AND DON'TS OF NEGOTIATING
As I’ve shown you, the more you understand about the real estate market, the more you know about the home-selling process, and the better informed you are about negotiating, the better position you’ll be in at the bargaining table to get the terms and price you want. It’s also important to remember that selling your home is a business transaction; emotions, opinions, and ego can derail your efforts. During negotiations, there are definitely things you should make a point of doing, and other things you should avoid. Here is a list of some of the “dos and don’ts” of negotiating to keep in mind when you get to this stage of the downsizing process:
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