Keep Cool While Negotiating

Real Estate

When you list your home for sale, you believe you’ve priced it right, staged it beautifully, and timed the market correctly for a quick sale. But that doesn’t mean buyers will pay full price. 

First-time homebuyers deferred home-buying seven years longer than other generations and are challenged by high home prices, large down payment requirements as well as unprecedented college debt. Due to the last recession, housing stock is older and fewer new homes are available.

So even though your housing market may be healthy with homes selling quickly, expect to negotiate. Negotiating doesn’t mean you win and the buyer loses, or you lose and the buyer wins. It’s a way for both of you to win.

Don’t take a low offer personally. The buyer may be using a low price to tell you something, like your home is tired or overpriced for the neighborhood. Your job is to find out what that something is. Ask their reasoning for offering such a low price.

Meanwhile, ask your agent for an updated comparable market analysis. Markets change quickly and learning new information may convince you to reconsider your position. Be flexible on the points that count most with the buyer like closing costs. Throw in the washer and dryer, and the buyer could be more flexible when it comes to repairs and other concerns.

You want to keep the dialog open and a possible deal alive. Remember, the buyer chose your home, and it could be your best opportunity to sell.

 

Christopher Basile,
Realtor
Keller Williams Realty
(856) 582-1200 Office
(856) 207-1578 Cell