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We Don't Care What The Buyers Offered, We're Countering!
Okay, we can't exactly say those words in that order, because the decision during negotiations ISN'T ours to make, it's up to the homeowners. We advise (sometimes strongly), but Mr. and Mrs. Homeowner, how we respond is your call.
However, we've learned a lot over the years about successfully negotiating home sales, and we've also learned from negotiations that go down in flames. That experience of knowing what and how to say things is a large part of why you hired us, even though it might not have been top of list when we interviewed. Marketing, commission rates and more might have been more important to you, but bottom line, all of those things without the ability to close the deal when it's time don't mean much.
"But BLiz, their initial offer is a joke! They can't possibly come to a price we'll accept!" But here's the thing, they liked your home enough to write an offer. They WANT to make your home their home. They've been inundated with "It's a buyer's market" for the past five years, so they've got to try for the steal. Human nature. We won't be surprised if you want to do the same thing after you sell your home and it's time to buy again. But it's not their first offer that tells us how serious they are, but the 2nd offer price. And to get to that 2nd offer, YOU HAVE TO COUNTER! Rejecting their offer slams the door shut. Game over man! And unless your home offers something REALLY unique they can't get elsewhere, they won't be back. That 2nd response from them is where you REALLY start to see the buyer's motivation.
Another part of our negotiating philosophy is make the other side be the ones to walk away from the negotiating table. Even when they provide a "best and final" that doesn't work for you, don't just say NO, but go back to them one more time. Maybe with the same offer as before, or maybe a slight change to their benefit. Let them know you're still interested in completing the deal. Maybe their "best" was a bluff. One last attempt in good faith may accomplish one of two things: either get them to find a way to go a little higher (and maybe JUST high enough), or at least let them leave negotiations with the door still wide open for them to come back later. And that's a good thing, because sometimes they do come back!
By no means is this a complete coverage of our negotiating skills! We know NOT to be the agents that throw gasoline on the negotiating fires. Neither buyers nor sellers should expect the professionals they hired to represent them to be the ones committing dealicide (yes spellchecker, we made that up).
So what we ask from all our clients, listen to us when it's time to negotiate. We do this often. Every offer won't be a winner, but we know how to give each offer the best possible chance to survive. And if this offer doesn't work? We'll keep marketing to get that offer that DOES work!
The Liz Spear Team Elizabeth & William Spear RE/MAX Elite: Ask for us by name if you visit the office! Two locations: Lebanon & Mason, OH Liz direct: 513-265-3004 Bill direct: 513-520-5305 Fax: 866-302-8418
<!---- start copying here ----->Author Bio: Gene Riemenschneider is the Owner and Broker at Home Point Real Estate. He is a Realtor and a SFR (Certified Short Sale and Foreclosure Resource). Home Point Real Estate works with Home Buyers, Sellers, and Investors.<!-- insert your own bio between the <p> tags ---->
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.