for the home? That seller just lost all their equity! When a buyer asks why you’re selling, answer without giving away any extra information. You could say, “Oh, we would like to move to Omaha.” (Or wherever you’re moving to.) You don’t need to say much more than that. Don’t divulge details. Don’t imply desperation. And don’t tell them you have a job transfer!
COMMON NEGOTIATING MIS TING MISTAKE #4: AKE #4: Making the First Move
Many buyers will ask what your bottom line is. They know they can usually negotiate a home seller down to an even lower price. Don’t fall for it. You’ve already made the first move by setting a price for your home. Tell the buyers you need to think it over, and get back to them. Then, ask them what they like about your home. If they tell you, you can determine their motivation to buy it. After that, ask them what they’re thinking of offering on your home. This rule is important because in some negotiations, you may offer more at the beginning than the other party is willing to accept. Here’s an example. A person I know was trying to buy video equipment. He thought the best price he could get was $1,500, but he was willing to pay up to $2,000. He asked the seller what he wanted for the items. The seller responded that he didn’t know what he wanted. My friend offered to pay $1,500, and the seller accepted it. Later, my friend learned that the seller had been desperate and 78
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