they make in the same fashion the other party does. A counteroffer midway between asking point and buyer’s offer might elicit another offer to split that difference. A counteroffer not responding directly to the offer, but instead offering a 10% reduction in the price might receive another offer 10% better than the buyer’s initial proposal. Seller can control the price negotiations with a previously planned counteroffer strategy. The person who is making the first offer is in a disadvantageous position. Guard against making this mistake. There is always the possibility that the buyer’s first offer will be better than what an anxious seller might propose. In that case, you are already ahead.
Take advantage of the Power of “Negotiating Silence”
Be like Cary Grant, the strong silent type, in negotiating the house sale. Do not become best friends with the seller. Do not let the fact that the buyer is a single mother and you want to help her out get in the way of your best price negotiation. Do not let a low-ball offer cause you to respond with a below-listing price counteroffer. In fact, keep your emotions at bay during the entire showing and negotiating process. Hard as it might be to keep your mouth shut during the greater part of home-showing and price-negotiating, make use of a technique called “negotiating silence” to keep negotiations on track for you. For instance, there will be times of discomfort during negotiations, whether in coming to terms on a price or conditions of the sale (the bargaining chips like an electric box upgrade or leaving/not leaving appliances, etc.). It is hard to stand and listen to a buyer “picking” at your home to justify offering as little as one might to bring about the sale. If you are uncomfortable, the other party too could feel the same way. During that moment, let a negotiating silence prevail. Most
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