5 Negotiating Tactics That Could Kill Your Sale

Dated: 02/08/2018

Views: 25

Image title

Negotiation is a subtle art in real estate, but skilled negotiators can usually find some common ground that satisfies all parties. On the other hand, using the wrong negotiation tactics can sink a deal pretty quickly. Here are some negotiation tactics buyers (and real estate professionals) should avoid:

1. Lowball offers

Going far below market value when you make an offer damages your credibility as a buyer and can be insulting to the seller. The seller has a range in mind that they’ll accept, and if you’re not even approaching the low end of that range, they won’t even consider the offer.

2. Incremental negotiations

Don’t continue to go back to the seller with small increases in your offer ($1,000 or less). The constant back-and-forth can grow tiresome and lead the seller to consider other opportunities.

3. “Take it or leave it”

 Try not to draw a line in the sand with your initial offer. The seller can get defensive and consider other offers if you immediately show that you’re unwilling to budge. Even if it’s true, don’t make a show of it.

4. Nitpicking after inspection

Obviously if inspection reveals a major issue, it should be factored into the final sale price. But insisting on a lower price for every minor repair can put negotiations in a stalemate.

5. Asking for more, more, more

Some buyers will request that the sellers throw in add-ons like furniture or appliances that weren’t included in the listing. Try to avoid giving the seller a reason to build up resentment and think that you’re being greedy.

Latest Blog Posts

Amazon Will Deliver A Tiny House Right To Your Door

When it comes to Amazon.com, we all know the platform allows you to buy pretty much anything you can imagine. From Halloween costumes and home decor to live fruit trees and Viagra, the massive

Read More

Find Out If Investment Rentals Are Right For You

When thinking about investments and retirement goals, many people think about owning rental properties. After all, they pay for themselves, right? They can be excellent additions to a savings and

Read More

3 Tips On Timing The Sale And Purchase Of A Home

If you're like most people, you're probably concerned about selling your house before having one lined up to buy.You don't want to sell your house first, not having somewhere to go.But, at the same

Read More

Read This Before Doing ANY Home Improvements

When you do any home improvement, you probably figure it's also going to improve the value of your home. And it probably will improve the value… but, probably not as much as it cost you. In

Read More