Let's agree right away that every transaction is unique and probably much more complex than any of the strategies I present here today. But how can you position yourself - whether as buyer, seller, buyer's agent or seller's agent - to be dealing from a position of strength? Here are our top three winning negotiation strategies for the Myrtle Beach real estate market right now:
1. Market Expertise. Forget what the national media says about real estate. What's the state of the Myrtle Beach market right now? Today? This week? The more information you have about what's selling, what isn't selling, where and why, the better positioned you'll be to take advantage of even small fluctuations in the market. Having a well-connected real estate professional in your corner can be to your advantage.
2. Where Is The Leverage? Let's be honest. If you're a seller in the midst of a buyer's market, and your home has been on the market for months, and you aren't the lowest-priced home in the area, you have no leverage! If, however, you are the seller evaluating offers from three buyers on your spectacular house that's priced right, you have the luxury of picking the best offer - or negotiating with all of them!
If you're a seller in a buyer's market, however, all hope is not lost. You can, for example, improve your home's curb appeal, or present a potential buyer with an inspector's report. An experienced real estate professional can make recommendations like these to improve your home's desirability, make it stand out from the competition, and even justify a higher price. Your Realtor can also represent your home in an unemotional way that could wind up saving you thousands of dollars in the end.
3. Look Beneath The Hood. Price is not always the sole determining factor. Consider two identical homes, in the same neighborhood, that have sold for $155,000. One sold at that price with no concessions from the seller. The other seller agreed to replace the air conditioning unit, paint the downstairs, and cover the first $2,000 of the buyer's closing costs.
If you're the buyer, which deal would you prefer? Do you know how to negotiate these items and a dozen more? (Hint: we do.) If you're the seller, how do you get closer to making no concessions? (Hint: we know.)
These are our top three right now. Keep in mind that we haven't even touched on sellers negotiating only with pre-approved buyers, or with unrepresented buyers or sellers. And an experienced Realtor knows how to leverage these - and many more - to your advantage.
All you have to do is ask for our help!
- Richard Sander, P&C Sales Mgr