Pros: One positive to the typical negotiating method is that the transaction is straightforward and easy to understand. It makes the seller seem flexible and willing to work with the buyer’s needs. This strategy can work well for folks who are willing to take lower offers to simply be rid of a home. Cons: A serious negative to this approach is that once you accept and sign off on the low offer, your house is off the market. Let me put that in perspective. Let’s suppose Sally Sue, who checked out your home last week, calls with a much higher bid five minutes after you reluctantly signed off on the low offer. You are now legally bound to put Ms. Sue on hold until you see if your current accepted contract works out. You could make substantially less money, and there’s not a thing you can do about it. Another con to the standard approach is that you might feel pressured to take lowball offers from deal seekers out of fear nothing better will come along. If the cons outweigh the pros in your situation, let me ease your mind. You don’t have to go through those negatives, because there are many negotiating approaches you can take. NEGOTIATING TECHNIQUE #2 REJECT AN OFFER, BUT THROW THE BIDDER A BONE Let’s say a buyer loves your property and makes an offer. You are happy they want the home, but you’re less than thrilled with their bid. You wonder whether you should get the deal over with and take what you can get, or hold out for a better offer. Go ahead and reject their offer. That’s right. Take a step most folks have a hard time taking and simply say that one dreaded word, “No.” Saying no sometimes takes you exactly where you want to go. Just don’t stop there. Reject their offer, but invite them to resubmit a higher bid. That takes some of the pressure off you. A deal like this can go several ways.
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