CHAPTER 18 Avoiding Common Negotiation Pitfalls Selling a home is one of the largest financial transactions most people will ever experience. Yet, many sellers walk into negotiations without understanding the potential pitfalls, and how to avoid them. The truth is, what you don’t say or do can be just as critical as what you do. A single mistake in negotiation could cost you thousands of dollars or even the sale itself. In this chapter, we’ll explore the most common negotiation mistakes and how to sidestep them with confidence and strategy.
Common Negotiating Mistake #1: e #1:
Not Understanding the Buyer’s Motivation Price isn’t the only factor driving a buyer’s decision. Sometimes, specific features or circumstances make your home more desirable than you realize. Understanding what motivates a buyer can give you the upper hand in negotiations. For example, if a buyer is relocating for a job and needs to close quickly, they may be willing to pay a premium. An experienced agent will ask open-ended questions to uncover their motivation. Even casual conversations can provide valuable insights. For instance, mentioning a unique feature of your town might prompt them to share where they’re moving from and why they’re buying. Your agent can use this information strategically 69
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