negotiations. On the other hand, resist the urge to share your motivations, timelines, etc. That’s information buyers will use to their advantage. • Don’t worry about looking greedy. You want what you want. Of course, you’re more likely to get what you want if you ask a realistic price. But in the end, this is a deal, not a referendum on your personality. • Don’t just say something, sit there. Silence can be uncomfortable, which is why it’s a good negotiating tool. Let the buyer squirm to fill in the silence with justifications of a low offer or ideas for making the deal work.
HOW TO HANDLE LOW-BALL OFFERS
Although there’s no clear definition of a low-ball offer, you know one when you feel one. It could be $5,000 below asking or $100,000 below asking, depending on the home. But if you’re provoked to tear it up, the offer is probably a low-baller. Resist the temptation to walk. Too often, FSBOs take offense at low-ball offers, which is a big mistake. An offer shows that someone is at least interested enough in your property to get the ball rolling. The trick is to roll the offer up to your price goal. Buyers will low-ball to: • Justify repairs or renovations they plan to make. • Reduce the price to better align with other properties they’ve seen, comparable or not. • Dip their toe in a buyer’s market to test the waters. • Follow the advice of their real estate agent.
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