Negotiating The Sale Of Your Home

Ask where they work, how many children they have, do they currently live in the area? These causal comments can give you an idea of what to feature. Will they be close to work, schools, parks or transit? Is there plenty of room for the size of the family? Can you tell them something about the wonderful neighbors?

You know your home better than any realtor ever could. Try to find the most positive aspects that each prospect may find appealing. If they don’t agree, at least the sale won’t be lost for lack of trying.

If you find a prospect who seems ready to make an offer, or shows sincere interest, don’t be shy.

Ask for an offer. You may feel that an offer will be made when the buyer is ready, but making a large purchase, such as a home, requires a certain amount of courage. Your buyers may be very tempted but need you to ask the question outright to move them to a decision.

You don’t want a nervous buyer who may have never bought a home before to walk out the door and buy the home down the block just because an experienced realtor asked the question. They will.

Don’t be nervous. If they want to make the offer they will likely feel relieved that you asked.

Approach them after they’ve had time to roam the home and discuss it among themselves. Ask them in a friendly tone “Would you like to make an offer? Perhaps we could sit down and discuss it right now”.

Negotiating

Don’t be surprised to be given very low offers to start. The buyers want a deal just as much as you want a profit.

Take every offer into consideration. Drop your price in increments depending on how low the original offer was. If the original price was $150,000 and the offer is $135,000 you might want to offer $149,000. If the offer is getting close, try to split the difference. If you get an offer at $146,000 why not suggest a split at $148,000?

When you’ve met your threshold or you are firm on the original price you should still have some bargaining chips on your side. Perhaps they would like to have the fridge and stove or the lawn mower included. If you are moving into a condo with appliances, you might find this a better deal than selling them privately.

The trick is to NOT list these items on your feature sheet or mention them as part of the package. You may have several items you’d be happy to leave behind including drapes, a freezer or other items. You might also be surprised what the buyer suggests. If you can part with it and it seals the deal than go for it!