Worrying about paying the mortgage while the home sits on the market or having to move out of state are prime pressure points for sellers. Maintaining a home for months in showing condition can physically wear someone down. For some sellers, finding the right buyer can be mentally and emotionally straining.
WHEN THE COMPETITIVE PRESSURE IS ON
When facing informed buyers, remember that the party with the most options is in a better negotiating position. The buyers may have researched your home’s marketing history. If you have relocated, the buyers may assume that you’re desperate to sell and will write an offer below market value. On the flip side, the buyers may offer a higher price if they thought you had three other offers with above listed prices or better terms. You'll also want to sharpen your senses to detect when buyers do not have other property options. Perceptions have a profound influence in negotiations. If interested buyers believe you have rejected offers that were higher than theirs, you have the upper hand to pressure for more. On the flip side, buyers may inform you of their interest in other homes, pressuring you for acceptance of their offers. The key to being a good negotiator is to stay calm and focused during the process to avoid costly mistakes. Knowing your buyers’ motivations without exposing yours will give you an edge.
LET TIME BE ON YOUR SIDE
Time pressure 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 buyers that a seller under pressure to sell will provide the best bargain. For this reason, smart home shoppers will obtain as
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