DO let the buyer speak first: If you jump right into the negotiations, you might seem too eager and give the impression of desperation, giving the buyer leverage. Let the buyer speak first, and then be patient. If your response is too quick and overeager, that could also imply desperation. For example, never reveal to the buyer what you’re willing to accept; it might be lower than the buyer was willing to pay, and then you’ll lose out! DON'T lose the advantage of being able to counteroffer. Let the buyer speak first and start off the negotiations. When a buyer makes an offer to you, unless it’s a fantastic one, you should bring counteroffers to the negotiating table. Counteroffers could be a different price, and/or concessions — such as shorter closing dates, terms, modifications of contingencies, or incentives. Since there is no limit to the number of times counteroffers can be made, make sure the buyer has to wait for your response. Again, let the buyer speak first! DO listen: While you’re letting the buyer speak first, be quiet, listen, and pay attention. It helps you to stay focused and to not reveal too much. Plus, a bit of silence can make the buyer feel nervous, and they might want to break it by giving away critical information. Again, the more informed you are about the buyer — rather than the other way around — the better positioned you’ll be during the negotiations. DO learn the buyer’s motivation(s): Try to find out why the buyer is looking for a home. Just as buyers will try to find out more about you, your home, and your reasons for selling, sellers can do the same about buyers. Whatever information you learn, you can use as leverage during negotiations. DO get the last concession: Remaining calm and focused during counteroffers is the key to getting the last concession. By asking the buyer to give something in return every time they come back with another request, you gain the upper hand.
98
Powered by FlippingBook