All of your presale planning has been leading up to this moment – by doing the hard work early you have set yourself up to be in strong position to negotiate on your property price and conditions
Once you have listed and your Agent has completed an inspection, you are likely to receive an offer (or multiple offers) from interested buyers. This is especially true for home sellers who are realistic with their expectations. At this point in time, it is highly beneficial to have a seasoned real estate professional working for you to get the best price and conditions.
At FineLife Property we draw on over 35 years experience when negotiating for our sellers.
When a you receive an offer, your agent will make suggestions on what you can do with the offer. Effectively you can accept, wait for another offer from another potential buyer or make a counter offer. Based on early feedback from buyers, your agent should make suggestions to improve the Buyer’s offer. It is important to note that the highest price is not always the best offer. Other factors such as settlement date, building and pest requirements and deposit options should all be considered.
As we have said previously, selling a home can be an emotional event and as such it is quite common for sellers to feel pressure to accept the first offer or yield to buyer demands. Our experience has been that a professional real estate agent can help relieve this pressure with careful explanations and help sellers work through the sales process smoothly.
Having a FineLife Property Real Estate Agent helps you to manage the emotion of selling a home.
Importantly your agent should aim to keep communication lines open – with both yourself and with potential buyers. Our skill in handling negotiations is one thing we are well known for. We like to ensure our sellers are aware of all potential buyers and, while not wasting our sellers time, we provide as much feedback as possible about those Buyers. Significant signs from potential buyers can range from ‘full throttle forward’ to a ‘complete turn around’. We have seen it all so it is vital that our Sellers are made to feel as relaxed as possible when things don’t quite go according to plan!
Communicating with Buyers
As important as keeping communication with sellers open, is keeping in touch with potential buyers. Buyers often have a number of homes to choose from and everything helps in attracting the right buyers. When you interview your agent for the first time, you should recall how they treated you and how well they delivered customer service – this is indicative of how they will treat buyers at inspection time.
Poor customer service from a real estate agent can put buyers off, at the detriment of the seller.
Buyers can struggle with the number of open homes they view, and often it takes a simple phone call from a real estate agent to prompt a second viewing or even an offer. At FineLife Property we like to get buyers details so we can keep them informed of what is available and to follow up when they inspect a sellers home.
The art of negotiating Property Price
While we as real estate agents have many years experience, no two negotiations are ever the same. Most importantly we aim to ensure both Buyer and Seller are happy and achieve what they set out to achieve, with both price and other conditions. In our experience, trying to use hardball negotiation tactics does not necessarily result in better offers and in actuality, hard work and consultative style negotiation tends to provide for better outcomes for all concerned.
Pre-sale planning pays off in the long run and is the reason why at FineLife Property we spend so much time talking through the process with our sellers, prior to listing.
- Let your agent manage the negotiation process – this allows you to be calm and manage emotion during the decision making.
- Do not get stressed during the negotiation process as this may cloud your judgement.
- Picking an agent with good people skills when you first interview will help when dealing with buyers.