Negotiation Tactics for Selling a Home

Article Written by : Financial Haze

Selling your home can be equally as stressful as buying your home. One of the largest financial transactions in your lifetime, the decisions that you make during this entire process will determine how much money you’re going to walk away with. Here are some strategies that will help you stay in the driver’s seat and get the most out of your prized home.

Initially, you’re going to receive plenty of low-ball offers – some of them ridiculously low. Buyers are going to want to test your flexibility when it comes to adjusting your price and will tempt you with offers. They also expect that there are going to be back-and-forth negotiations that will eventually lead them into lowering the price significantly. If you have adequate proof of the value of your home, there’s no need for you to cater to the buyer as willingly as they expect you to. Stand your ground. If you feel that they value your house too poorly, don’t be afraid to say, “No thank you.”

Buyers are going to want to get the best deal for your property as they can. This means trying to negotiate as much as they can. You can always counter with your list price to determine whether or not you’re dealing with a serious buyer. Someone that’s willing to negotiate with your list price is definitely worth giving a second look to. By countering with your list price, you’re essentially telling people that you absolutely know what the value of your home is and that you’re not going to budge. You can also lower the price by $1000 to also display inflexibility. You’re still guaranteeing a solid property but aren’t willing to drop it significantly.

If you want a riskier and more extreme tactic, you can completely reject the offer that they make and do not counter with another offer. If they’re willing to show any interest, they’ll submit an entirely new offer – sometimes without you even asking them to. This gives you a bit more leverage in the negotiation game.

Whichever tactic you decide to go with, make sure that you receive a fair offer. There’s nothing worse than giving in to the pressure of selling your house only to find out that you lowered its’ value substantially. The amazing deal that you just gave to your new buyers won’t bring you any positive benefits, except for maybe that you felt charitable enough to practically give your property away.
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Kuba Jewgieniew is the founder of Realty ONE Group, a real estate firm that focuses on fostering a unique culture and gives everyone a voice.