CHAPTER 15 The Dos and Don'ts of Negotiating
Simply put, selling your home is a business transaction. Although it is a multi-tiered process, it is still a buyer negotiating to purchase a seller’s home, for an agreed-upon price. You, as a seller, must keep this in mind. Opinions, emotions, and egos — on your part or the buyer’s part — could derail your efforts, so don’t be the transgressor. The more you know about negotiating, the better off you will be in getting the price you want for your home.
LET THE BUYER SPEAK FIRS EAK FIRST
Let patience be your guide in dealing with an interested buyer. Don’t be anxious to tell them what you are willing to accept; it may be lower than what they were willing to offer. Like any sale transaction, buyers have a price in mind. Don’t lose out; let the buyer speak first. This is why you hire a Realtor. We are skilled in the art of negotiation. Most people do not negotiate for a living. Realistically, you do not hire a Realtor to "open doors" or put the sign out front for a listing, but to look out for your best interests (fiduciary duties).
DON'T "MEET IN THE MID T IN THE MIDDLE"
Even in the simplest of sales transactions, agreeing on a price often includes “meeting in the middle.” For instance, a buyer speaks first and offers to buy an item for $150, when the seller is expecting to sell for $200. Most will split the difference and counteroffer $175. Instead, keep the splitting point in the seller’s 92
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