Control Your Emotions During Negotiation By Being Prepared
The biggest mistake that property sellers make during the negotiation phase is that they don’t prepare themselves properly. The best negotiators are the best prepared. It’s important to walk through what really happens during your negotiation with your real estate agent so that you’ll never be surprised. The first step is to study the potential trading range for your property and understand that the buyer is most likely to start at the lower end of that range unless the market place is so competitive that there are multiple offers by default. You must understand that most likely…
The Final Price Will Fall Within The Reality Range
Your final sale price will most likely fall within or very close to the reality range that you established with your agent before the process ever began. When you’re aware of this range you’ll avoid over reacting negatively to lower offers. The next step is to prepare yourself to counter any and all offers, even if it’s a small token counter to keep the discussion moving. It doesn’t matter where a buyer begins their opening bid, it only matters where they end up. ALWAYS give a counter offer to at least encourage the buyer to continue; harsh negative responses from sellers end more potential deals than anything else. Every buyer needs to experience their own process and many will increase their offer dramatically when they encounter a positive, inviting reaction. So…
Don’t Overthink & Stay Connected With Why You’re Selling
Most sellers try to read too far into the negotiation techniques of the buyer and become too easily offended. Don’t over think what the buyer’s strategy might be, rather, realize that it’s just a business transaction and that the market place is simply trying to find the true current market value for your property. The key to staying calm and professional during your negotiation is to stay focused on why you’re selling in the first place so that you continue to move towards the goal of a successful sale. In order to move on with your life…
Everybody Has To Agree In The End So Think Win-Win
Remember that at the end of any property negotiation, both buyer and seller have said ‘yes’ and agreed to a meeting of the minds on price and terms. Neither party will ever feel that they’ve achieved a perfect deal, because there is no such thing. The final deal is influenced by so many variables that it’s impossible to experience a perfect negotiation. The best thought process is to be thankful that a ready, willing and able buyer has agreed to buy your property, which, ultimately, is a win-win situation.
We realize that preparing to negotiate the sale of your property can be overwhelming, so please feel free to contact us to arrange for an in home consultation on how to thoroughly prepare yourself for the negotiation of your sale.
Understanding how to negotiate the sale of your property will set up course module #7 where you’ll learn how to prepare for the closing process so that you avoid the loss of your deal.