For example, if a buyer knows a seller is in foreclosure and must sell before losing the property, the buyer has the upper hand. He or she knows the seller is under a time constraint and will use that knowledge to make a lower offer. Buyers look for time-sensitive situations to push their price. Sellers who are behind on mortgage payments, recently retired, or are under contract for another home dependent on this home sale are candidates for high-pressure tactics from savvy buyers. Buyers may come to you and ask questions to find out if any of these situations apply to you. Buyers also play the waiting game. From a buyer's perspective, the longer the house has been on the market, the more flexible the seller will be. The same applies to negotiations. The more buyers prolong the time spent in negotiating the sale, the more likely they will get the price they want.
KNOWLEDGE IS POWER
Information is the key to real estate negotiations. The more insight the buyer has into your motivation to sell, the more powerful he or she is at negotiating. For this reason, your goal is to find out more about them without disclosing any information on your situation that could be used against you in negotiations. When the buyer asks what appears to be a tough question that may relate to an offer, he or she is looking for direct answers and your reactions. Stay professionally reserved and avoid showing anxiousness to sell. A simple but effective technique for handling a tough question without giving out information is to answer with another question. If you are asked if your home has been long on the market, simply answer imprecisely, e.g., “Not long.” Then calmly ask the shoppers how long they have been looking. Their answers
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