There are 3 things that have to be the very best in order for your home to sell, and one of the three is the negotiating.
Negotiating a deal is easy, negotiating an amazing deal is a skill.
Of course, as with any negotiation, having an 3rd party doing the negotiations keeps the emotions out of the equation and can help with a full 360 degree view. Like signing a lease for a car, you may want the car so badly you overlook the detail that could hinder or cost you money in the long run. A 3rd party can see all the things you’ll overlook in order to agree a great deal that is right for you.
When you get the first offer from an interested party there are some tactics you can use to negotiate yourself the best possible deal.
1 – Find out the information you NEED to know first:
Things like:
Their situation: What position are they in? If they are sold – find out who too, how long the chain is and how far down the sold route they are.
If they are cash buyers, know why they want to move, and why they want your house, it will help with the negotiating. Desire makes people pay more.
(Your agent should give you this information, if not, ask for it, and ask for everything to be confirmed, warning signals should sound if you hear, ‘I think she’s sold’ or ‘they said they had sold’. Get it confirmed!)
2 – Reject the first offer
Always reject the first offer. They are seeing how the land lies and almost always have a second offer ready.
3 – Never give them hope (or make sure your agent doesn’t)
If you don’t tell them, ‘it sounds good’ or ‘great offer’ then they will already be considering their next move. If they hear those words, they may well stick closer to the current offer price thinking that the agent will persuade you.
If they don’t hear these words, they will likely be planning their next offer or worrying that the offer might not be accepted. Fear of losing the house they love can help get you the offer you want, and ultimately the house, they want.
4 – Tangible Items
In order to get yourself the extra you need, try adding in things such as – the cooker, the designer curtains or even a sideboard they had their eye on. These are just ‘things’, but they are also things they can see, it is highly likely that those curtains that match the décor won’t fit in the new home anyway.
Things they can see and feel can help them to convince themselves that paying a little extra was worth it. Buyers will occasionally pay a premium for even old curtains, if it means that they do not have to rush out and buy any old curtains until they re-decorate. They pay for convenience.
If there is something you are not willing to part with, your agent should know upfront.
5 – Intangibles
Timescales can make or break a deal.
If someone is prepared to pay a premium for you to move quick, and you feel you can, move heaven and earth to do it. It’ll be worth it, gets the sale completed quicker and will put you in a stronger position to negotiate on your next home.
An emotional buyer is a much more secure buyer, so an emotional buyer can also pay the very best price that they can to get the dream home. Finding out a little more about your buyer can help you help them. Just ask your agent, or whoever is negotiating for you, so you feel comfortable enough to say yes when the time is right.
Have you thought about your onward purchase? Who will negotiate this with tenacity and skill? Talk to us, we can help you with this.
Happy negotiating
