If the house has been listed several times with a stable price, that’s a sign the homeowners are taking their time and might be waiting for the highest offer. It’s vital to understand that both the buyer and the seller may forget the final goal: to buy and to sell. Sometimes, the parties get carried away in a battle of negotiating. Lock your eyes on the ball, but at the same time, be realistic in your expectations of the situation.
The following tactics will help you to stay focused:
• Use the “middleman.” Your real estate agent should be your middleman to negotiate with your seller’s representative. Using him as a buffer will save you time and aggravation. He may also provide useful information concerning the sellers and their intentions, which the other party will not disclose to you. • Wait for the “Big Boss.” A third-party person (such as an attorney) could also see and evaluate the offer and give his or her expertise. Although this is not customary (or even beneficial) in some markets, it may allow for a chance to lower the seller’s counteroffer and keep your positions. In addition, you’ll make the seller wait. This could make the seller believe you’re considering other options. • Be curious. Asking questions may reveal valuable information from the seller. It might help to find the reasoning behind the house sale. If you don’t know it yet, this could be your priceless leverage. • Consider compromise. Be ready to give away something during the negotiation process.
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