That will start the conversation about where they are moving from. You can learn a lot from what they say. It will be helpful during the negotiations. You would be amazed at what some people will tell you. COMMON NEGOTIATING MISTAKE #2: Meeting in the Middle This is the most common mistake novice home sellers make. It’s the easiest way to sell your home for $10,000 less than you should. Meeting in the middle is never a good strategy. The problem is that everyone thinks they have to do it. Compromise, right? But there’s no rulebook that says you have to meet in the middle. Here’s a quick story that illustrates this. A home was on the market for $240,000. The buyers made an offer of $220,000. The seller’s agent told him to reject the offer and told the buyer’s agent they should come back with a better offer. (The house had been on the market for only two days.) The buyers came back and met in the middle with a $230,000 offer. The seller’s agent knew they were serious buyers and really wanted the house. The seller thought the buyers were being good people by meeting in the middle. He was willing to accept their $230,000 offer. The seller’s agent advised him to give a little, maybe counter with $237,500 to see what would happen. The buyers came back with $235,000, and after more negotiations, the buyer and seller agreed on $237,000. So, what can you take from this? Don’t meet in the middle! Instead, give 10% to 20% and let the other guy give 50%. You’ll gain a little more in each round of negotiations. COMMON NEGOTIATING MISTAKE #3: Talking Too Much This is the worst sin of negotiating. Don’t tell the buyers or their agent your life’s story.
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