Are There Rules in Negotiating?
I would say that there are rules. However, these "rules" are up for interpretation. Let me give you an example.
A buyer's agent presents an offer to the listing agent. They state, verbally, that the buyer is not sold on the property and has another house in mind if the seller is not cooperative with the buyer's terms. Is this a form of negotiation? Absolutely! Does it benefit your buyer? Is it necessary as the listing agent to relay this message to the seller? It depends.
In the above example, there are many ways to look at what the buyer's agent is telling you, the listing agent.
1. They are telling you that the buyer is not really committed to the seller's home.
2. The buyer is out to get the best deal and if the seller does not cooperate, there are other properties that will work just as well.
3. The buyer's agent is "puffing" and trying to use an intimidation tactic or fear of loss with the seller, assuming that the listing agent will share the information with the seller as they determine their response.
In the above situation, I do not relay that information to the seller. I think that it would put a roadblock in the process of selling the home.
Here are 3 possible things that could happen if you share this information with the seller:
1. The seller responds to the offer unreasonably. Even refusing to negotiate and countering to the asking price and effectively buying the house back.
2. The seller could call the buyer's agent bluff. Removing many of the terms that the buyer is asking for since the buyer is not attached to the property.
3. The seller could be offended and take the remarks personally and not want someone like that to live in their home.
Ultimately, sometimes as a listing agent, we need to act as a filter. And just the facts on paper, speak for themselves. The buyer's intentions are on paper. Take it for what it is worth and don't let another agent's remarks steer your negotiation tactics with your seller.
Keep smiling!
Karen
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