much information about sellers as they can get.
For example, if buyers know a seller is in foreclosure and must sell before losing the property, the buyers are in a better negotiating position. If buyers know a seller is under time constraints, they will use that, making low-ball offers or appearing indecisive or by not promptly returning calls and messages. Buyers look for time-sensitive situations to push their price. A seller who is behind on mortgage payments, recently retired, or is under contract for another home, which is dependent on this home selling, are candidates for high-pressure tactics from savvy buyers. They may come to the seller and ask questions to find out if any of these situations are applicable. A seller’s eagerness to please them may be read as desperation. Buyers also play the waiting game. In real estate, acceptance time can be a powerful tool in price negotiations. From their 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 stretch out the time spent negotiating the sale, the more likely they will get the price and terms they want. Buyers will invest time with sellers to create relationships, trust, and a willingness for a seller to agree to their terms. The advantage that may arise for a seller is that the buyers may not want to walk away empty-handed after gaining the seller’s trust. By exercising patience, sellers can maintain their position on terms and price.
KNOWLEDGE IS POWER
Information is the key to real estate negotiations. The more information buyers can glean from you, the more pressure you will face. The more knowledgeable side will overpower the less
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