The home selling process can involve varied house prices, which makes it crucial to learn how to negotiate those prices. As a seller, you want to get the best deal possible, even if not in a seller's market. If a buyer offers less than the original asking price, it's time for negotiation strategy.
Working with a real estate agent, here are some tips for negotiating a selling price:
The market value of your home is the actual amount a buyer is willing to pay in context of the current market. In a buyer's market, a seller may need offers below the present cost of the property in order for a house to sell. If the price is too much higher than market value, offers may be too low to be accepted.
Buyers often raise concerns about features or details of a property in an attempt to negotiate lower prices. Therefore, it's important to counter with the positives to their negatives. One great idea is to emphasize any upgrades or improvements to the home that might outweigh a buyer's misgivings.
Knowing the market value of your home is just one piece of the puzzle. Understanding the trends of the overall real estate market in the area you're trying to sell in is essential.
Real estate agents can help you choose the best price with comparative marketing analysis, or CMA. This type of report gathers data on market behavior regarding asking price, purchase price and the likelihood of multiple offers.
Negotiating isn't necessarily win or lose. If you approach your price negotiation from the perspective that everyone can win, you're likely to be more successful. Addressing buyers' concerns and interests with a collaborative, positive outlook can win you a higher home price, even if the initial offer is lacking.
Negotiation can seem intimidating, but real estate professionals are there to help you. Using these guidelines, you can ensure you get the highest possible amount for your home sale, no matter what offers you receive.
I'm a veteran real estate agent with over 24 years of experience. Started my career in 1999, working for Century 21 American Dream in Hamden CT; assisting buyers and sellers, providing first time home buyer presentations for banks and non-profit organizations. By surpassing my sales goals, I received awards from the Regional Division of Century 21, for Outstanding Customer Service and the Multi-Million Dollar Award.
In 2005, I started McNeil Realty in New Haven CT, and later moved to Hamden CT; servicing New Haven, Middlesex, and Fairfield counties; providing home-buyers and sellers with professional, responsive and attentive real estate services. I'm a HUD Certified Broker, assisting buyers with foreclosed properties.
Please give me a call! I'm eager to assist and would love to talk to you. McNeil Realty is the Key to Opening Your Door! Stay safe!
