As a seller, your job is to push back on every real estate negotiation. Whatever the reason behind the sale, your aim should be to make profit. That being said, a buyer’s job is to ask and ask and ask. In the seller’s eyes, all that matters is a high price whereas for a buyer, getting the best deal is the ultimate goal. It’s obvious that in a standoff like this, they have to negotiate on neutral terms.
When it comes to negotiations, one party has an edge. As long as the buyer has multiple offers, they can be picky about the terms. However, if there’s just one buyer, it’s possible that the house might be on the market for too long because the seller didn’t want to “settle”. Negotiations go on until the deal is actually closed. If you are listing your house for sale in Sandy Springs GA, try these 10 negotiation tricks to tip the deal in your favor:
As mentioned earlier, the seller wants a good deal. This means that you need to keep a margin that will convince the buyer that the price you are asking for is justified. Set the price slightly below the market value but make sure it covers the cost of the renovations and repairs you have done over the years.
2. Low Closing Cost
If you are giving them the benefit of a low closing price, then go for a high asking price. Do not go lower than 5% or you might face complications if the deal goes south.
3. Home Warranty
Buyers love warranty. It’s the one thing they cling to because that piece of paper promises free repairs. Throw in the warranty and they will agree to your asking price.
4. Financing Contingencies
Make sure that the buyer’s mortgage appeal has been approved or you might get stuck in the deal for 2 months or more.
5. Entice with a Leaseback
To entice the buyer, offer them a free 30-day trial to live in the house. However, make sure that the house is in perfect condition. This way, you have the opportunity to get firsthand knowledge about the upgrades and you can raise the deal if the buyer feels comfortable in the house.
6. Home Repairs
You can either offer home repairs and increase the asking price or leave the house as it is and lower the price. The former is a better option because there’s a chance that you will get multiple offers due to the appliance upgrades.
Patio furniture, BBQ pit, fire place and a hot tub in the backyard – all these items are up for grabs. Buyers love houses that come with this type of luxuries. So, display them and let the negotiations begin.
Inspection can either make or break your deal. So, before going through with it, make sure your house is in tip top shape.
9. Surrounding Assessments
This includes the house’s façade, garden, garage, drive way and all the other areas that make up the environment. First impression is the last impression and this can go a long way in making the deal profitable.
10. State Everything in the Contract
Do not leave anything on your word. Whatever you are selling with the house, include it in the contract, so that the buyer knows the price for the luxury they are purchasing.
With these tricks, you can negotiate a sale like a pro. After all, a drawn out negotiation and a cleverly written deal will bring you the profit that you have been hoping for. America’s Network Reality is a website that allows you to evaluate your house online, so that you can start creating a sales plan. You can learn more about the art of negotiation by seeking a seller’s advice.