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Negotiating the deal

When a buyer is ready to make you an offer they will contact their agent who will get in touch with me, I'll let you know as the Seller.  Buyers should present their offer formally with a contract of purchase and sale.

Most home buyers and home sellers want to arrive at a win-win agreement, but that's not to say either side would regret getting a bigger "win" than the other. Successful negotiating is more than a matter of luck or natural talent. It also encompasses the learned ability to use certain skills and techniques to bring about those coveted win-win results.  That's why using an experienced Real Estate Agent is so important. 

1. Start with a fair price and a fair offer
There's no question that significantly overpricing your home will turn off potential buyers. Likewise, on the buying side, making an offer that's far lower than the asking price is practically guaranteed to alienate the sellers. Asking and offering prices should be based on recent sales prices of comparable homes.  Let your agent work out a Comparison Analysis for you so that you know what the market is in your area.  The house is only worth what someone is willing to pay for it. 

2. Respect the other side's priorities
Knowing what's most important to the person on the other side of the negotiating table can help you avoid pushing too hard on hot or sensitive issues. For example, a seller who won't budge on the sales price might be willing to pay more of the transaction costs or make more repairs to the home, or pay more in closing costs for the buyer, while a buyer with an urgent move-in date might be willing to pay a higher portion of the transaction costs or forgo some major repairs to close sooner.

3. Be prepared to compromise
"Win-win" doesn't mean both the buyer and the seller will get everything they want. It means both sides will win some and give some. Rather than approaching negotiations from an adversarial winner-take-all perspective, focus on your top priorities and don't let your emotions overrule your better judgment.

I am a respected, experienced Real Estate Agent with years of negotiating skills, give me a call to discuss your next Real Estate Transaction.

Janie Masterson, Realtor, GRI, CLHMS janie@janiemasterson.com