Let’s remember why we’re here
Negotiation is a subtle art in real estate, lemmetellya! Even the most skilled negotiators can usually find some common ground that satisfies all parties.
On the other hand, using the wrong tactics can kill a deal pretty quickly. Let’s make it simple and review some negotiation tactics buyers (and realtors) should avoid:
Going below market value when you make an offer damages your credibility as a buyer and can be insulting to the seller. The seller has a range in mind that they’ll accept, and if you’re not even approaching the low end of that range, they won’t even consider the offer.
Back and forth negotiations
Don’t continue to go back to the seller with small increases in your offer or moving the money around into different buckets but keeping the numbers the same ($1,000 or less).
The constant back-and-forth can grow tiresome and lead the seller to get ticked and not even want to consider anything you put forth OR move on to other buyers.
“Take it or leave it”
Be careful when you start trying to draw a line in the sand with your initial offer. No one likes to be backed into a corner. Even if it’s true, don’t make a show of it. The seller will most likely get defensive and consider other offers if you immediately show that you’re unwilling to budge. You need to be mindful of this kind of mindset when presenting an offer.
Be selective, not nitpicky
Obviously, if an inspection reveals a major issue, it should be factored into the final sale price. No doubt about that. But insisting on a lower price for every minor repair can feel a bit like being pecked to death by ducks. And it could land you in a stalemate and no one wants that this far into the process, right?
Asking for more and more and more will turn your sellers off in heartbeat. They’re not Santa Clause. They’re selling their home and they have not committed a crime by doing so. Some buyers will request that the sellers throw in add-ons like furniture or appliances that weren’t included in the listing. Again, as a buyer, you can request all sorts of things in your offer, but keep in mind, you will be a seller at some point as well, and no one likes to deal with people that are greedy. Try to avoid giving the seller a reason to build up resentment and keep your offer as clean as possible.
Hopefully you found this information helpful!
Until Next Time,
Weekly Welcome Mat with Angel Przybylski
Bakersfield Homes and Lifestyle