While driving back from showing some properties last Saturday afternoon, I found myself pondering this question. When does the negotiating process in a Real Estate transaction really begin? Most sellers will respond, "At the moment an offer has been presented to me!" Personally, I believe it begins before that and in fact, it begins at the moment the "For Sale" sign is placed in front of the property. From the very beginning of beginnings of listing a home for sale, questions are often asked of the seller about the house and property. Be aware, supplying the wrong answer or even too much information to a purchaser in reference to certain questions, can steal away a sellers negotiating advantage.
For example: One question I've heard asked many times over is, "So why are you selling?" Notice, there is not an offer to purchase yet, it is simply a question as to "Why" are you selling? I've been truly amazed at what sellers share with prospective buyers as to their reasons for moving at this point in time. In fact, I believe when sellers share too much, they without knowing give prospective buyers an unfair negotiating advantage. If the buyer believes the seller has to sell, in other words is desperate to sell, you can bet on the fact they will offer less than they would have otherwise. A seasoned Realtor knows this to be true.
An experienced Realtor will coach their seller as to what and what not to say. Perhaps they will even urge their sellers to go have a cup of coffee at the neighborhood coffee shop while their home is being toured. A seller's failure to listen could cost him/her big bucks! I came across this article recently on this very subject of guarding your negotiating advantage. The writing is titled, "Mum's the Word on Why You're Selling" Revealing your motivation to sell your home almost always gives the buyer a strong negotiating advantage, warns Steve McLinden.
I urge all sellers to let your Realtor manage the process of selling your house. In all probability, your agent understands the negotiating process, including what and what not to say while endeavoring to strike a deal.
David Burrows, Realtor
Envirian of Warrenton
Warrenton, VA 20186
Email: david@burrowsproperties.com
Web: Burrows Properties
David: Great points. I haven't been with a buyer yet who didn't ask why the seller was selling. And you know they are asking so they can see how motivated/desparate the seller is.
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