on mortgage payments, recently retired, or are under contract for another home and dependent on this home sale are prime candidates for high-pressure tactics from savvy buyers. Buyers might come to you and ask questions to find out if any of these situations apply to you. Eagerness to please themmight jeopardize your negotiating position or even be read as desperation on your part. Buyers also play the waiting game. In real estate, acceptance time can be a powerful tool in price negotiations. From their perspective, the longer the house has been on the market, the more flexible the seller should be. The same applies to negotiations. The more they stretch out the negotiations, the more likely they’ll get the price they want. Why? Buyers want to become friendly, they want to create trust, and they ultimately want your willingness to agree to their terms. Your advantage is that the relationship is a two-way street and they might not want to walk away empty-handed after gaining your trust. By exercising patience, you can hold your position on terms and price.
KNOWLEDGE IS POWER
Information is crucial to real estate negotiations. The more information the buyer can glean from you, the more pressure they can exert. The more knowledgeable side will overpower the less- informed at the bargaining table. The more insight the buyer has into your motivation to sell, the more powerful they feel in the negotiation.
DOS AND DON'TS OF NEGOTIATING
Selling your home is a business transaction. Although it may be a many-layered process that appears more personal than business, 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 will attempt to derail
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