A quick tip for home sellers about negotiating with a buyer in this market.
Today I want to quickly share a negotiating tactic that’s helping me manage my sellers’ expectations and make the transaction smoother in general. As I’m sure you’ve heard, home sellers are receiving a lot of offers on their homes in this market. Many of these offers are over asking price. A home we listed the other day for $650,000 has already received 23 offers, and seven of them were over $750,000. Of course, the seller is excited because everybody wants their home.
“It might not be a bad idea to throw the buyer a few bones.”
The one thing I’ve learned when negotiating contracts in this kind of market is that buyers will do just about anything to get their offers accepted. However, some of these buyers have the mindset that if something comes up on the inspection after their offer is accepted, the seller should throw them a few bones.
I prepare my sellers ahead of time by telling them that whatever offer we accept, they should assume that they may have to provide a few thousand dollars for repairs. Unless they’re something big, that typically doesn’t happen. However, if you go in with the mindset that you’ll let the buyer have a few wins so they don’t feel it’s a completely one-sided transaction, you can still sell your home while netting the most amount of money possible.
If you have any questions for me about how I can help you get across the finish line with the least amount of friction, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.
