Property Negotiations: Tips to Help You Seal a Successful Deal

When it comes to preparing for a property sale, most sellers focus on the early stage of the process: sprucing up their home and choosing an agent to manage the marketing.

Property Negotiations: Tips to Help You Seal a Successful Deal
But there’s another element to nailing a successful property deal that gets less attention but is just as critical: negotiating the sale.
 
How do you know when to accept an offer and when to hold out for more? And what should your strategy be if you have more than one offer on the table?
 
With such large sums of money at stake, making decisions in the heat of the moment can be stressful, so it’s helpful to work with an experienced estate agent. 
 
A top agent will have negotiated countless deals throughout their career and be able to advise you on the best steps to take.
 
Here’s an explainer of what it takes to negotiate a good deal to help you choose the right agent to manage your sale.
 
·      Get the asking price right. If your property is overvalued, you’ll be starting negotiations on the back foot. Savvy buyers won’t be fooled, meaning you’ll either have to backtrack on price or leave the property stuck on the market. An overvalued property is also less likely to attract multiple offers (that generate a bidding war).
 
·      Understand the local market. It’s crucial to know what similar properties in your area are currently selling for so you can gauge the competition.
 
·      Learn as much as you can about the buyer. Understanding a buyer’s motivation for moving and the timescale they’re working to is important. That way, you can judge the seriousness of their offer and if they have room to move on price.
 
·      Stay calm. Don’t let your emotions rule your decision-making. Stay cool-headed and don’t take the negotiation process personally.
 
·      Don’t focus solely on the numbers. Yes, you want to secure a good price, but if you have multiple offers, going with the buyer who can move according to your timeframe could save you in the long run. If you’ve already paid for a survey and legal fees for your next property, having your chain collapse could leave you out of pocket.
 
·      Stay positive. You may experience ups and downs on your property journey but keep the faith. You’ll get there.
 
For a free property valuation, contact us here at Grey & Co today.

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Meet Abigail

  Hello, my name is Abigail, and I am the Grey in Grey & Co. I started working here in 2002 as a Junior Negotiator and have worked my way up the ranks since then. I took over running the company in 2014 and have been enjoying the roller coaster that is leadership ever since.   During my 20 plus years at Grey & Co I have dealt with the sale of over £100,000,000 worth of property and overseen the management of assets worth £250,000,000 for clients around the world.   I also had the pleasure of working with my father, the founder of Grey & Co, for 15 years before he sadly passed away and from him, I learnt the work hard ethic and our values today are still the ones that he founded the company on all those years ago.   Be Remarkable, Be Passionate, Be Humble and Be Better.   As a community centric boutique family agency, you couldn’t find a better partner to take with you on your property journey.

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