Date Posted: 2012-07-05 07:39:37
Site Posted: Myproperty.ph
When selling your home, the amount that you will end up getting for it will depend greatly on how well you negotiate. Depending on the way the market is going during your sale, you should expect people who will try to lowball you into selling, but that doesn’t mean you have to bite. The best defense? Playing hardball.
Stress your listing price
When a seller first comes up to you with a price lower that what you’ve listed your house for, your instinct might be to counter with an amount higher than his offer, but still lower than the original price. This might show that you’re flexible, and might even help you sell right away, but assuming that you’d rather not walk away with a loss, don’t do it. Instead, emphasize your listing price by offering it again. While this might send some buyers on their way, it will also filter out those who are just wasting your time. Buyers who stay, on the other hand, will see that you actually know what your home’s worth, and that the property is indeed as great as the price indicates.
Ask for another offer
If your need to sell is not that urgent (and if you have the courage to do so), reject the buyer’s offer and ask them to make a higher one without proposing a counteroffer. This will not only show that you are well aware of the value of your home, but will also leave you with the opportunity to accept a higher offer should it come along since you’re not committed to a certain price. With this possibility in mind, a buyer who made an initial low offer will be pressured to raise his offer if he’s that interested.
Accept offers only after the open house
After listing your house for sale, invite buyers to an open house, but don’t accept any offers until the showing is over. Because of the time that has lapsed between the listing and the showing, buyers will assume that they will be in competition with other interested buyers, since you’re holding off on offers. In the event that you do receive a lot of offers, you’ll get the opportunity to focus on the best ones and ask them how high they’re willing to go.
Real estate is a game of strategy; to ensure that you get the most money for your property, you have to have a great plan of action. If you’re going to play hardball, your property has to be as great as you tell them, which means pricing it right, staging it well and paying attention to the needed repairs. This way, you’ll be in a much more powerful position when it’s time to negotiate.
Jillian Cariola, Writer
(cover image from freestockphotos.es)
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