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Home Seller Negotation Secrets
Dated: February 22 2022
Views: 272
Buyers and sellers alike have the chance to negotiate the sale of a home. Get all the insight on how to pull this off in a way that's a win-win for everyone!
Are you the kind of person who is always looking for the best deal? There are some opportunities for you to put your skills in play as you buy a house.
Negotiations are typically part of a home buying or home selling process. Read on to learn more about how to come to the table with winning arguments to score the best deal.
Tips To Be 100% Organized And Approved
First, if you’re going to have a leg to stand on in negotiations, you need to have your ducks in a row.
If You Are A Home Seller, You Should
- Set the right home price.
- Have your home ready to show.
- Know your responsibilities.
- Have terms in mind.
Key Ideas
- Set your list price based on current comps provided by your REALTOR®.
- Use open houses to foster competition, virtual or in-person depending on current conditions.
- Use counteroffers with expiration dates.
- Talk to your REALTOR® about different options for counteroffers and concessions.
The Questions To Ask And Participating Lenders
Investigative work is the second step in a negotiation that lands you on top. Here are the right questions to ask if you are the home seller.
Seller
- Who are you negotiating with: what is their financial position?
- What strategic concessions are you willing to make?
- What comps (other homes for sale) are you up against in your area?
- What do you have to negotiate with?
- What are your non-negotiables?
3 Possible Goals
1. Create a bidding war
2. Drive urgency
3. Make more money
What's Up For Negotiation?
As you enter this stage of a home sale or purchase, it’s important to know that it’s not just the price of the home that’s up for negotiation. In fact, home negotiations can include a huge range of items that have personal or case-specific value.
- Price
- Contingencies
- Terms
- Occupancy
- Furniture
- Repairs
- Equipment
- Closing Costs
- Fees
- Tools
Sometimes, negotiations will occur after an inspection. If essential repairs are identfied, these can be included in a negotiation about home price or closing costs.
Negotiation Tips
Negotiations will happen through your REALTOR®, who plays a vital role. Home sellers and buyers have a lot of opportunities to drive the conversation that occurs between real estate professionals. Here are some negotiation tips:
The Basics
Know how to receive an offer and what your options are.
➡️ Set a bottom line price you’ll accept.
➡️ Remember that price is not everything.
➡️ Set intentions and goals for your negotiation.
➡️ Understand contingency clauses and offers.
The goal for everyone is a win-win deal. Most important tip: collaborate with a qualified agent who will guide you through this process.
READY TO CONNECT?
I'M HERE TO HELP YOU NAVIGATE NEGOTIATION THAT HAS OPTIMAL RESULTS FOR YOUR HOME SALE!
Frances Thorsen
Frances Thorsen is a leading real estate author and thought leader. She got her real estate license and became a REALTOR® in 1985. She was an early adopter of real estate technology on the Interne....
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