Negotiation Strategies for Sellers

So the good news is you have an offer on your home. Chances are, in this current market environment, you will find it necessary to enter into price negotiations. Here are essential strategies that will help you successfully close the deal.

Enter into negotiations armed with the facts. Today’s buyer is an educated buyer.  And he’s looking for a great deal. Be certain you understand market conditions. Have your agent provide you with recent sold comparables. And learn the competition, your agent can tell you what other similar properties are available on the market in your area.

Don’t keep the buyer waiting. Respond with your counter-offer within a reasonable period of time. If possible, don’t cause the buyer to wait more than 24 hours. The buyer’s enthusiasm regarding your home may cool, or another equally desirable property may come on the market. Make it clear that you are serious about selling, & that you are motivated to come to a meeting of the minds.

Keep emotions out of the equation. This is probably the most difficult task a seller faces. It’s also the most common reason deals are lost. Respond to the offer as you would any business transaction, with a clear, calm, well informed approach. Remember, this isn’t personal, it’s business. You have an emotional attachment to your home; don’t let this impact negotiations. The buyer’s intention is not to insult you; he simply wants to negotiate the best deal he can.

Be patient. If the buyer asks a hundred questions, endeavor to answer them. What may seem silly to you can be important to the buyer. This is especially true for first time homebuyers or for someone from a different area or accustomed to a different style of living.

Never allow personal property to kill your deal. OK, you intended to take the cement lions on your porch with you. Or your daughter is getting her own place & can really use those kitchen stools. Don’t let the buyer’s desire for something of little monetary value kill your deal. Keep the big picture in mind.