Bottom Scraper Bargaining… It’s A Dirty Job

Buyers will always negotiate. That’s part and parcel of the whole home selling deal. In a market called ‘buyers’ market’, the negotiations are hardly ever on the side of the sellers. In this case, how does a homeowner deal with these negotiations without compromising his share of the earnings? How does a homeowner face these hardcore bargainers like a pro?

Here are some tips:

  • Always put a price that’s a little above your comfortable price.

Let me give you an example. You know that the unit you’re selling over at myHabitat is worth its posh price. This gives you enough ‘bargaining space’. See, the secret to this whole bargaining thing is to make the buyer feel like they’re on the winning side. They will always negotiate for you to lower your price, and putting ‘your price’ a bit higher than your supposed actual price, their bargained price is likely to still be within your comfortable price.

  • Always expect low offers.

Especially if the market is on the buyers’ side, you are better off expecting a lot of insistent, low offers. Don’t expect the offers to be close to your asking price; they will always want to go so much lower.

Handshake

  • Know which offers are worth a conversation.

Some offers are crazy and are not worth your time at all. But some are, actually, even though they may be outside of your comfortable range. Say, your house is up at $400,000 and you get a $300,000 offer. While a $100,000 bargain is a little too ridiculous, it may actually be worth your time to talk with the buyer and try to meet in the middle.

  • Make sure your ‘comfortable price’ is also the fair price – as is agreed on by an appraiser or a pro broker or the fair market price in your area.

While it’s okay to go a little over the market price for ‘marketing purposes’, don’t go overboard as to make your potential buyers cringe just at the thought of your asking price. Negotiate well, and you’ll be sure to reap in the benefits.

  • Do not be too headstrong on something.

The headstrong will hardly sell. While you can stand firm by your own price for your house, you may hardly get a final deal on your house. Buyers feel that the advantage is on their side since the money comes from them and if you’re too stubborn to even listen to their bargains and offers that are a little less than your asking price, you may turn away any potential good bargains. Be flexible.

  • Keep your emotions off of the bargain.

Just as you are not to put your emotions into the price tag that you’re putting your house up for, the same goes true when you’re bargaining. It’s easy to get mad or discouraged or maybe even insulted over a really small offer – knowing that your house is worth more than that – but don’t let that get to your head. Face this situation like a pro, dive into the negotiation head first.

Your agent can only do so much for you. The major decisions – including the negotiations – are always in your hands. From all of us here at 5 Star— good luck and make a good sale!