This is what you need know about expert negotiation strategies
Something that can make or break a deal when you sell real estate in Hampton Roads is the negotiation. In fact, if you want to get the best price for your home, you probably need the help of expert real estate agents.
But, it never hurts to have a few negotiation strategies up your sleeve when you’re trying to sell. Amy Fontinelle is right when she says, “There are often opportunities to change a deal’s scope and achieve better results.”
This happens when you negotiate skillfully. Here are 6 tips to help.
1. Go in knowing your floor price
If you want to avoid losing money, you need to know the absolute lowest price you can accept.
But, don’t set this price until you know what your home is worth. Many homeowners set their minimum price based on what they want their home to be worth. Or, they may even set it based on what they need in profits.
However, the best method for setting your floor price is getting an accurate market value.
2. Never give a counter offer based on fear
Especially in a buyer’s market, make sure you’re prepared for lowball offers. Home sellers will often receive low offers to start.
Don’t let this concern you, however. Sometimes buyers are looking to get a good deal, and sometimes that’s truly all they can afford. If you make a counter offer based on a fear of losing the sale, you risk going too low.
Sometimes sellers will counter with a price that’s too low because they don’t hold to their floor price. That’s why it’s good to have a real estate agent who can help you negotiate.
This makes the back and forth of offers and counter offers easier. It will also keep you from losing money!
3. Don’t be afraid to walk away
To keep the upper hand in any negotiation, it’s important to be willing to walk. This gives you power because no buyer can pressure you into selling below your minimum price.
Fear of losing the sale is again a hazard that keeps home sellers from walking out of a bad deal. Don’t fall into this trap and make sure you get the price you want and need.
4. Be bold in asking for what you want
When you set an accurate market price, you shouldn’t be afraid to hold out for it. Your goal is to get the best possible price – that means being bold and knowing your home’s value.
5. Be reasonable
It’s also important to be firm during negotiations. Don’t mistake that for being unreasonable, though. If the buyer makes a fair offer, consider accepting it even if it’s not your ideal price.
6. Get everything in writing
Once you’ve agreed on a price, make sure everything is in writing. This will protect you if the buyer backs out of the deal later.
With these tips in mind, you’ll be better prepared to negotiate selling real estate in Hampton Roads. Make sure you get the best possible price.
If you’re selling real estate in Hampton Roads, call Reeds Real Estate
To get help negotiating when you sell your house in Virginia, call Your Home Sold Guaranteed Realty – Reeds Real Estate.
Our team will help you with expert and award-winning agents who can negotiate on your behalf. A lot of people are intimidated by the idea of driving a hard bargain. But it’s easy if you leave it to the professionals.
When you work with our team, we’ll help you with every step in the process. Just give us a call at (757) 799-4824 or fill out the form below.
Are you ready to get started selling your house in Hampton Roads?
