How to Negotiate When You're Selling a House

Dated: July 9 2022

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Negotiations are typically part of a home buying or home selling process.

Read on to learn more about how to come to the table with winning
arguments to score the best deal.

Tips To Be 100% Organized And Qualified

First, if you’re going to have a leg to stand on negotiations, you need to
have your ducks in a row.

If you are a home seller, you should:
Set the right home price
Have your home ready to show and sell
Know your responsibilities
Have terms in mind

KEY IDEAS:

Set and stick to your list price
Use open houses to foster competition
Use counteroffers with expiration dates
Use counteroffers with expiration dates

The Questions to Ask

Investigative work is the second step in a negotiation that lands you on top.

Here are the right questions to ask if you are the home seller.

Seller:

Who are you negotiating with: what is their financial position?
What strategic concessions are you willing to make?
What comps (other homes for sale) are you up against in your area?
What do you have to negotiate with?
What are your non-negotiables?

3 Possible Goals:

1. Create a bidding war
2. Drive urgency
3. Make more money

What's up for negotiation?

As you enter this stage of a home sale or purchase, it’s important to know
that it’s not just the price of the home that’s up for negotiation. In fact, home
negotiations can include a huge range of items that have personal or case-
specific value.

Price
Contingencies
Terms
Occupancy
Furniture
Repairs
Equipment or tools
Closing costs
Fees

Negotiation Tips

Sometimes, negotiations will occur after an inspection. If essential repairs
are identified, these can be included in a negotiation about home price or
closing costs.

Negotiations will happen through your realtors, who play a vital role. Home
sellers and buyers have a lot of opportunities to drive the conversation that
occurs between real estate professionals.

Here are some negotiation tips:

THE BASICS:

Know how to receive an offer and what your options are
Set a bottom line price you’ll accept
Remember that price is not everything
Set intentions and goals for your negotiations
Understand contingency clauses and offers

The goal for everyone is a win-win deal.

Most important tip: collaborate with a qualified agent who will guide you
through this process

Ready to connect?

I'm here to help you navigate a negotiation that has optimal results for your
home sale or purchase!

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