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. There is great negotiating power that comes with silence--I will discuss more on that shortly.
DON'T "MEET IN THE MID T IN THE MIDDLE"
There is a fantastic book titled, Never Split The Difference , by Christopher Voss, which, if you haven't read it, I highly recommend you do. It addresses the following concept specifically. 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 $200, when the seller is expecting to sell for $250. Most will split the difference and counteroffer $225. Instead, keep the splitting point in the seller’s favor by counter-offering $270, so that the midpoint is now $235. This works especially well in competitive real estate markets that favor sellers. The buyer may take the offer or end up agreeing to $260 or $255, which is slightly more than what the seller planned to ask for. Many inexperienced real estate agents believe that meeting in the middle is a win for both parties, but in my mind, this is a very linear approach. A win to me is defined as getting you asking price or above, and anything else is a loss or a compromise. With that said, there are a myriad of elements that encompass a real estate transaction, many of these falling under "terms of sale", that can be favorable to you, and indirectly affect your bottom line. Settling sooner can mean one less month of mortgage and house-related bill payments. It can put you in a better position of negotiation on a house you are looking to move to as well. There are personal items that may have no value to you or your ex, but may be desirable by the buyers. Junk/trash removal can save you money if the buyers are willing to take on this responsibility as part of their offer. This can result in unnecessary mental stress being avoided by not having to deal with your ex on yet another item. If you are familiar with
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