The homeowner will usually make a counteroffer, which can be accepted or rejected by the buyer. Sometimes this back-and-forth goes on for a while. There are both pros and cons to this situation. A positive aspect of this typical negotiating method is the transaction is straightforward and fairly easy to understand. It makes the seller seem flexible and willing to work with the buyer’s needs. This strategy can work well for sellers who are willing to take a somewhat lower offer to simply get the house sold and move on. This strategy is often used when you are up against a specific deadline to sell; a good example of when this approach is used is when relocating for a job.
NEGOTIATION TECHNI N TECHNIQUE #2: UE #2: Reject an Offer, but Throw the Bidder a Bone
Let’s suppose a buyer comes around, loves your property, and makes an offer. You’re happy they want the home, but you’re not happy with their low offer price. You may wonder whether you should get the deal over with and take what you can get, or hold out for a better offer. This negotiation strategy says to go ahead and reject their offer. That’s right. Take a step most folks have a hard time making and simply say that one dreaded word, “No.” Saying “no” can sometimes take you exactly where you want to go. Just don’t stop there. Reject their offer, but invite them to resubmit a higher bid. That takes some of the pressure off you by putting the ball back in their court. Potential buyers usually don’t expect you to take their first offer, and they might be throwing out a lowball offer just to see how far down you’re willing to go.
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