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: 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
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