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Negotiation Burnout - One Too Many Counteroffer

By
Industry Observer

It is not unusual to see an offer on a house be answered with a counteroffer from the seller.  And still not unusual for that to be followed by a counter to the counter from the buyer back to the seller.  This negotiation process can go on....and on....and on. 

But at some point it seems like one of two things will happen.  Either one of the counteroffers made is acceptable to the other party and everyone's pretty happy with how things stand.  Hurray - a sale in progress!

 

Hand shake

The other thing is not so likely to be celebrated though.  It is that the buyer or seller or both have gotten worn down by the back and forth haggling to the point where they just aren't willing to keep the negotiations alive anymore.  One or both may have begun to be frustrated, then disgruntled, and finally they just throw up their hands and quit. 

Reaching that point of negotiation burnout may still not mean the deal is forever dead.  But it does mean that at least for now, it was one too many counteroffer, and buyer or seller (or both) are ready to give up.

Some deals are just not meant to be.

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Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

I'm not fond of the creeping negotiation. 

We make and offer, they counter and if necessary, we counter back.

Following that, my advice to the buyer is "SIT ON IT".

If our offer is reasonable with close to market.  The seller will accept. 

Sep 03, 2013 07:09 AM
Nancy Conner
Olympia, WA
Olympia/Thurston County WA

I agree Lenn.  It seems like when a negotiation creeps on for too long, even if you actually reach agreement, both parties are kind of grumpy and unhappy with the other side.  No need to poison a transaction right at the start.

Sep 03, 2013 08:36 AM
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

The counter of the counter of the counter of the counter . . . it's way too much!  Haggling over little items, I remember one savvy buyer doing that and taking advice from his mother who lived in Arkansas and never stepped foot in Portland Metro.  She was calling the shots and she done killed that deal!!

Sep 03, 2013 12:48 PM
Nancy Conner
Olympia, WA
Olympia/Thurston County WA
Exactly Carla - haggling on and on and on tends to wear everyone out and pretty much extinguish the buyer's enthusiasm for the house - or the seller's enthusiasm over getting an offer.
Sep 03, 2013 01:11 PM