Real Estate Negotiation 101: Twin Tips for Sellers

Real estate negotiation is easy! Well, ok, maybe not. It can be pretty complicated, frustrating, and emotionally draining. But when you come to the negotiation table, there are two things to keep in mind that will simplify the process and ensure you get what you need from the transaction.

Strategic Real Estate Negotiation

Get happy about negotiating! Image via http://www.ronlypchuk.com/buying.aspx
Happy about real estate negotiation! Image via Ron Lypchuk.

Here’s the first twin tip: don’t get emotional. It’s understandable, the sale of a home is fraught with emotion, and to some extent it should be. This is where a lot of important events in your life may take place. Where you spend time with family, catch up with friends, and take quiet moments for yourself. You are attached to your home and you want the most from it. But, to get the most from your sale, emotions really should take a backseat to pragmatic decisions. At least, they should when you’re in the midst of a real estate negotiation.

Speaking generally, the way we usually see emotion take over for sellers is when they receive a low-ball offer. When this happens, it’s important to realize that the offer is not about you; it’s about how the buyer values the house you happen to own and it shouldn’t be taken personally. We often see sellers get offended by these offers, and then make a counter-offer far too high, which turns the buyers away. You never know what the motives are behind a buyer’s offer, so it’s important to try to think pragmatically.

What Are Your Goals?

The second tip is to keep your goals in mind. This goes hand in hand with not letting emotions take over your decision. Go back to the day you listed. What was the return you were planning on getting? How did you make that decision? It can be exciting to get an offer, whether you’ve just listed or have been waiting a while, and with excitement comes snap decision-making. Your REALTOR® can remind you what your goals were help you make sure your decision stays true to that plan.

For more information on negotiating tips call or email the Charlie Parker Team!

ph: 250.751.1223 | email: info@nanaimorealestate.com