fbpx

Good To Know: Keys to Successfully Negotiating the Sale of Your Home

The most difficult aspect of selling a home is negotiating the transaction. While it quite literally pays to have a sharp and experienced realtor in your corner, it’s also very important for you to be as educated about the process as possible.

Being in the know not only benefits you throughout the key decision making process but it keeps you a step ahead, which in this crazy market is a huge benefit. To that end, we’ve filtered down ten crucial tips (in alphabetical order) to help you navigate the complex process of selling your home once the offers roll in.

Ask, ask, ask away…

You have an agent for a reason. Don’t get put off by any complex or intricate terminology in the offer. Just ask them to explain. It’s their job!

Defer when necessary…

Focus on big issues in the offer. Smaller sticking points can usually be dealt with after the more urgent matters have been agreed upon.

Disclose everything… (and we mean EVERYTHING…)

Put it to you like this: if a buyer knows about an issue or problem in the house, they can’t sue you afterwards. In other words, you need to go out of your way to disclose any and all known defects to them. It may come at your own cost, but you’d rather pay a little now than a lot later.

Don’t be fixated on price…

Obviously the primary focus of negotiations is price. However certain terms of the purchase can be just as influential on the deal, as both the buyer and yourself have specific requirements. Consider ALL things that constitute an attractive deal.

Keep your poker face…

Your reasons for selling, your urgency, your financial situation, etc. These are all matters to keep private from both the buyer and their agent. They are out to get the best deal possible. Any weaknesses they pick up on could undermine you, weaken your position, and cost you a lot of money.

Never lose your cool…

Deals are sometimes lost at the negotiating table not just over price or terms, but poise and temperament. Stay civil at all times, even if you have to bite your tongue to do it.

Put trust in your sales representative…

This is what they do. They are professionals. Your best interests are paramount to them.

Remember your priorities… but respect the buyer’s too…

It takes two to make a deal. Always use your best judgment. Don’t let trivial issues get in the way of progress.

Respond quickly…

You want the sale, right? So don’t delay in answering when a buyer makes you an offer. Things can change really quickly.

Split the difference…

Small disputes may arise over relatively minuscule expenses when closing. More often than not, it’s best to just meet the buyer halfway and put it in your rearview. You have your next chapter to move on to, after all!

Screen Shot 2017-02-02 at 9.45.33 AM