When it comes to real estate, a large part of what can make or break a deal can come down to how the negotiations aspect of the transaction takes place. Knowing when and how best to counter could mean thousands or even tens of thousands of dollars being saved or lost and the difference between a successful sale or a home continuing to sit un-purchased on the market.
- Utilize your markets. You can use different media outlets to promote your home including newspaper ads, pamphlet handouts, promotional DVDs or websites. Always remember to include your price!
The moment the media declares a ‘Property Shift’, it’s as if the market freezes and retracts. The result is fearful buyers, pickier buyers and eventually fewer buyers. They can’t see the wood for the trees. Because they don’t want to pay too much for a property, buyers go too far, and if they can’t get a great deal they just say good-bye for now.
When the market shifts what happens is instead of guessing where the peak of the market is, buyers now predict that there is no bottom. The truth is the market remains full of people who genuinely want to buy and sell. The big question is – At What Price?
A market shift absolutely reiterates the importance of pricing and marketing. As your Newcastle Estate Agent we know this, so we not only advise you on what your home will approximately sell for, but also the general pricing of your local market.
- Learn about negotiating and contracts, offers, and deals. Many sellers approach buyers with offers and you need to understand the legal transaction process. – Know the pros and cons of your home. Buyers will want to know what they will be able to improve with regards to the exterior and interior and what they cannot improve such as location and style.
Adjusting or compromising on closing dates or even upon a Realtor’s commission may come into play as counter offer bargaining chips as well. It is important at times to think outside the box when it comes to the art of the counter offer, as this could help save you time, trouble, and money.
- Make plans to move, if you have not done so. You must think about all these steps if you are considering selling your house. However, if you do decide to pay a realtor, they will usually take care of all of this, lessening the burden for you.
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