In any case, negotiating on your home’s value can be tricky. This is especially true if you have chosen to sell your home without the help of a real estate agent. If you are having trouble negotiating with a buyer and they will not budge on their offer, don’t be afraid to walk away. Chances are that if you have one potential buyer, more will follow to take his or her place.
Often, those who choose to sell their homes without a real estate agent hear things, like “The first offer is the best offer!” and “Don’t let your emotions affect your asking price.” While these statements can be great pieces of advice, each real estate transaction is different, and should be treated as such. If a buyer and his or her agent try to pressure you into selling your home for a much lower price than you are comfortable with, you have no obligation to accept their offer.
Remaining confident in your home and your price point will go a long way at the negotiation table. Did you have your home professionally appraised? Did you do your research on similar homes, special features, and your unique market before deciding on a listing price? If you can answer yes to both of these questions, your price is probably very accurate. Just because you have an emotional attachment to your home, does not necessarily mean your price is unfair, especially if you have worked hard to remove your emotions from the pricing.
It is reasonable to expect that seriously interested buyers will try to negotiate a price that is somewhat lower than your asking price, but still fair for the size, location, and features of your home. However, when a potential buyer begins dipping far below your asking price, explain why you are standing firm in your price. You can respectfully turn down an offer you feel is unfair, even if it is the first offer. In this case, the first offer will not be the best.
You may be nervous to turn down offers, especially if you are under a time crunch or if the market isn’t positioned in your favor. But, chances are, where there is one offer, there are more waiting in the wings. If you turn down an unreasonably low offer and don’t get much interest thereafter, focus more of your attention and efforts on marketing your home. You can even enlist the help of a friend or professional who specializes in local marketing to help generate interest in your home.
When more offers come in and with one (or more) negotiating experiences under your belt, you will feel much more comfortable negotiating the technicalities of the sale with potential buyers. Other buyers will want to negotiate, but if they seem flexible, respectful, and interested, you will likely be able to work out a deal that will leave both parties happy in the end.
You won’t always get the amount of money you had your mind set on in a real estate transaction, but that’s no reason to settle for much less money than your home is truly worth. If you have done your research, prepared your home accordingly, and communicated openly and clearly with potential buyers, don’t be afraid to turn down an unreasonable offer.
Stress is one of the largest concerns when selling a home. Staging, managing finances and documents, and simultaneously juggling the rest of your life can be completely draining. However, one thing is certain about selling your home: it’s a lot easier when you have a solid real estate agent to handle it. Remember, No-One Works Harder to Sell your Home more than Joe! Contact Joe today by calling 813-908-7293 or visit https://josephlewkowicz.com/