Selling or Buying a Home? Here’s How to Negotiate
Buying or selling a home involves big decisions, and often you need to negotiate to get a deal you’re happy with. Here are a few tips to help, whether you are buying or selling.
Start from sound foundations
When you’re selling, setting the right asking price will help get any future negotiations off on the best possible foot.
An agent with bang-up-to-the-minute knowledge of the local market (such as hint, hint, us) can help you get the asking price spot on.
Have a top and a bottom line
As well as a figure your home can realistically achieve, know what you’re willing (and can afford) to accept.
Knowing these numbers will be invaluable once offers come in.
Think quality and quantity
It’s not just the size of the buyer’s offer that counts – but the quality of it.
If, for example, you want to move quickly, a buyer whose home has already sold or who is a first-time buyer could be attractive.
Factor this into any negotiations.
Negotiating for buyers
Remember estate agents work for sellers. They can’t advise you on a strategy.
However, knowing your budget and having a mortgage in principle agreed will help you stand out as a serious player.
If you’re able to move quickly or are flexible on the moving date, tell the agent so they can pass this on to the seller.
If you’re a landlord or investor and can work to the seller’s timetable, this is worth mentioning as well.
Keep everything polite
Put yourself in the other party’s shoes.
How would you feel about that offer?
Would you take it seriously? Or would you feel insulted?
Low-ball offers can alienate sellers and slam the door firmly shut on any further negotiations.
Give and take
Reaching a deal works best when each party knows their own position – but is willing to take the other’s point of view on board.
That opens scope for further offers – and maybe counteroffers – and smooths the way to agreeing on a price everyone is happy with.
Share the load …. with a good agent.
Negotiating can be hard work and stressful if you’re not used to it.
As your local independent estate agents, we’re fully experienced in the process.
We can advise and support you 100% in any negotiations to sell your home.
If you’re thinking of selling, please don’t hesitate to contact us for advice.
Buying and selling the ethical way
We’re proud to be members of the Ethical Agent Network (EAN), a group of independent estate agents selected for meeting strict standards around values, service and integrity.
If you’d like to find out more about how we work and why we’re the only local agency chosen by the EAN, get in touch with us today.
