CHAPTER 13 Dos and Don'ts of Negotiations
Selling your home is a business transaction. Although it may be a multi-layered process that feels personal to you, at its heart, it’s simply a buyer negotiating to purchase a seller’s home for an agreed-upon price. You, as a seller, must keep this fact in mind. Opinions, emotions, and ego may attempt to derail your efforts; don’t let them. The more you know about negotiating, the less likely you are to create a needless detour during the sale process. According to a 2015 real estate article on MoneySense.ca, “Very often the best deals are the ones where neither party walks away feeling like they won, but instead, walk away feeling like they negotiated well.”
DO LET THE BUYER SPEAK FIRST
Let patience be your guide when dealing with an interested buyer. Don’t be anxious to tell him or her what you’re willing to accept; it may be lower than the buyer was willing to offer! Like any sale transaction, buyers have a price in mind, even if it is a lawn mower at a yard sale. They might be willing to pay $200 for the mower, but when they ask, you say $125. Do not lose the advantage of being able to counteroffer. Let the buyer speak first. That’s why it’s called an offer. It will either be an offer you can accept, or you will at least have more knowledge about what price the buyer has in mind.
DON'T "MEET IN THE MIDDLE"
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