market or having to move soon are prime pressure points for sellers. Maintaining a home in showing condition for months on end can physically wear someone down. For some sellers, finding the right buyer can be mentally and emotionally straining. Knowledgeable buyers' agents will push to get the best deal for their clients.
WHEN THE COMPETITIVE PRESSURE IS ON
When facing an informed buyer's agent, remember that the party with the most options will win the negotiation. An agent will have researched your home’s history on the market. If you have already relocated, the buyer may assume you’re desperate to sell and will offer a lower amount. On the flip side, if the agent believes you will receive other offers, she will counsel her clients to offer their best price. Perceptions have a profound influence in negotiations. If an interested buyer believes you have already rejected offers higher than what he wants to offer, you have the upper hand. Conversely, a buyer may inform you he is interested in other homes just to get you to accept his offer. The key to being a power negotiator is to stay calm and focused during the process to avoid costly mistakes. Knowing your buyer’s motivation without exposing yours will give you the edge.
LET TIME BE ON YOUR SIDE
The pressure of time is inescapable in the world of sales. It is evident during antique auctions, construction job bids, and car sales. Time is a powerful negotiation tool. Real estate agents advise their client-buyers that a seller under pressure to sell will provide the best bargain. For this reason, smart home shoppers should obtain as much information about the seller as they can.
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