Selling a home is scary. The money that could be gained is rather exciting, but how do you nail down the asking price you want?
Negotiation is an intricate art form that can go a long way when dealing with a real estate transaction. Here are a few tips to boost your negotiation skills and help sell your home.
Let Go of Emotions
Leaving a placed you once called home is emotional, created by the memories you have made. But, your home is not your memories. Those memories will last forever. One trick is to take pictures in the home before moving. That will help you consider it for what it truly is: bricks and mortar.
If this sounds harsh, then you haven’t yet properly let go. Don’t let harbored emotions create a situation where you are easily offended. Low-ball offers, or little off-handed comments from buyers could leave a you ruling out a potential offer and failing to sell.
Besides, the majority of the time, homebuyers are operating with a buyer’s agent, and a counter-bid to their low-ball offer will be matched or exceeded. If your home is in high demand, this is especially true. It’s important to keep in mind that buyers are negotiating, too, and their low-ball offer or negative comment is meant to be strategic, not offensive. Keeping your emotions out helps keep your options open.
(Having trouble getting your home seen? Improve your curb appeal.)
Handling the home inspection perfectly can help a seller avoid declining costs as an offer unfolds. Do a walk-through: does your home have areas that you know need to be fixed?
Doing the home inspection yourself is the best way to avoid pesky home buyer negotiations. You can now make the necessary changes before going on the market. If you find you don’t have the time or money to make the changes, you can present the home inspection results upfront so that all offers are presented under the knowledge of needed repairs.
Loans, insurance, closing costs, title, and more can all be last-minute contingencies. If an offer isn’t exactly as high as you’d like it to be, see what you can get the home buyer to provide in the form of these contingencies. Often times, negotiating this way saves time, money, and stress for all parties involved!
Prepare For Buyer Negotiation Strategies
In order to play the best defensive game in a real estate transaction, it’s best to hire a professional Birmingham real estate agent. Being prepared in this way for buyer negotiation strategies will set you ahead. A real estate agent understands what type of market you are selling in, and knows what tactics a buyer will throw your way. Knowing these tactics in advance can prevent them altogether.
Here is an example: bringing in a third party for review. The buyer will tell you that their parents or lawyer need to come in and approve before the settle. Most of the time this is strategy is an intimidation, to get the price down for a quicker settlement. Being on offense here means asking the buyer upfront if anyone else needs to see the property before closing the deal. This will blind-side them, and ruin their negotiation.
Real estate agents know and can anticipate the depths of negotiations from the seller and buyer standpoints. Your best bet is to hire an agent if you want to get the most favorable deal.
This is a guest post from Marie Lawrence, Relocation Director at ARC Realty
The Birmingham real estate agents at ARC Realty are well-versed in negotiating in the Birmingham market. Need help negotiating for your home? You can contact them here: http://www.usmilitaryonthemove.com/memberprofile/arc/
* Rebates are not allowed in all states. In some states, a gift card or commission credit at closing may be provided in lieu of the Cash-Back bonus. You must register with U.S. Military on the Move® before contacting a real estate agent and be represented by the assigned real estate firm at closing to qualify. All real estate transactions are negotiable. Other terms and conditions may apply.
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