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Negotiating As A Home Seller
Successful
negotiating in a real estate transaction doesn't start with an inflexible
position and negative posturing. It
starts with listening. Each side
has things they would like to get out of the deal.
Some are critical, some are not. Surprisingly,
not everything has to do with the purchase price. Take for example a
couple who is transferring from out of state.
Their home has just sold, but will be in escrow for 30 days.
Both the husband and wife need to start work and get the kids in school.
Their primary need is to take possession of the home they buy before
closing, not getting an extra $10,000 price reduction.
If you are the seller and are flexible on this issue, you may be able to
sell at or above the listed price. By
listening and discovering what everyone needs, there is a much greater chance of
creating a "win win" where everyone involved has a pleasant, successful
transaction.
One of the
byproducts of this attitude is positive, open communication.
In almost every transaction, one party needs a concession from the other
at some stage in the process. Let's
say, for example, the buyer's mortgage broker has unexpected difficulty near
closing and needs to extend the transaction for two days.
If the buyer and seller have become adversaries,
the whole deal may be in jeopardy while personal scores are settled. If everyone has been treated with respect and their concerns have been
addressed, successful closing is assured.
This does not mean you cannot negotiate hard for what
you want. That's business. We get great deals for their clients just by listening. What may seem like a small things to our clients (fast closing, rent back
to sellers who are not ready to move, raising the purchase price to roll buyers
costs into the loan, replacing a hot water heater, etc) may result in a better
price or other factors that are more important.
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