CHAPTER 13 Additional Dos and Don'ts of Negotiating
Selling your home is ultimately a business transaction. Although it may be a multi-layered process that feels personal for you, it’s simply a negotiation in which a buyer seeks to purchase a home at an agreed-upon price. You, as a seller, must keep this fact in mind. Opinions, emotions, and ego may attempt to derail your efforts but don’t let them. The more you know about negotiating, the less likely you are to create unnecessary delays during the process.
LET THE BUYER SPEAK FIRS EAK FIRST
Let patience be your guide. Don’t be anxious to tell the buyer what you’re willing to accept—it may be lower than the buyer is willing to offer. Like any sale, buyers have a price in mind—even if it’s just a lawn mower at a yard sale. For example, a buyer might be willing to pay $200, but if you say $125 first, you lose the advantage of making a counteroffer. Always let the buyer make the first offer. That’s why it’s called an offer. The buyer’s offer will either meet your expectations or, at the very least, reveal what they believe the home is worth.
DO NOT “MEET IN THE MID T IN THE MIDDLE”
Even in simple sale transactions, agreeing on a price often involves “meeting in the middle.” For example, a buyer may offer $150 for an item the seller expects to sell for $200. Most sellers would meet at the middle and counter at $175. However, it would 76
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