There are many ways to come out on top in real estate negotiations both as a buyer and a seller. Today we want to highlight some of the methods you and your agent can have at their disposal.
Real Estate Negotiation Tips For Sellers: Your keys to success
As a seller you hold a lot of the cards in negotiation. You have something that the buyer wants and have piqued their interest in your property enough that they have presented you with an offer. However, negotiation is still key to ending up with the most favorable offer. It is important to share with your agent what terms you are looking for. Is price your number one concern? Or are you more concerned about not paying for potential repairs? Timing is also a crucial factor. Do you need a specific closing date in order to purchase your next property? As your agent I will field phone calls prior to offers being written. Armed with this information the negotiation begins. These days there are a lot of competing offer situations. Informing these agents what terms would be most favorable to you allows them to create a great offer. My goal is always to present you with the greatest number of amazing offers. I then help you weed through all the idiosyncrasies to sign the best one.
Real Estate Negotiation Tips For Buyers
With the seller’s market of the last few years it can seem like sellers certainly have a bit of an upper hand. While this is true in some aspects at the end of the day a seller wants to dispose of their property and receive fair compensation. They may also have time constraints. Then we negotiate condition at time of inspection. The terms we first negotiate will always include timing. Sometimes, sellers are flexible but this is not always the case. The seller may need the cash from this sale to close on their next house in two weeks. Or they might need a rent back for several weeks after closing in order to secure their next move. The saying time is money is especially true in real estate. An offer that meets the timing the seller needs can easily beat out an offer thousands of dollars over yours. You can also waive your right to inspection. This ensures the seller that there will not be extra expenses that they need to worry about. Agreeing to cover any gap between the appraised value and your offer price is another strategy. This means you will bring the difference in cash to closing. When combined, all of these negotiation strategies provide a seller peace of mind in accepting your offer.
We Are Your Negotiation Experts
Need some help negotiating your next real estate transaction? Contact us and we would be happy to help you reach your real estate goals with the least amount of stress possible.