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Wednesday, September 11, 2013

Objectivity: Negotiating the Real Estate Deal

Home Seller Tips: Negotiate a deal - not animosity.

The pendulum has swung the other way...the real estate pendulum, that is.  In Brevard County, Florida the number of homes for sale has dropped considerably - especially homes buyers consider "move in ready."  As of today there are about 2,600 active single family listings in Brevard County.

Now sellers have the upper hand.  But that does not mean a motivated seller should totally disregard the give and take of the negotiation process.

Whether one is a buyer or the seller objectivity is a key component of the real estate sales process

Sellers most often encounter the challenge to objectivity when the discussion turns to the listing and selling price.  Some sellers feel an attachment to the property because of the memories and experiences associated with the property.  Unfortunately, unless one is selling their memoir, most people will not pay a premium for memories.

As a buyer in a market with fewer "move in ready" homes available for purchase the likelihood of  buyers finding themselves in a multiple offer situation is real.

The current market requires clear thinking with emotions in check as the negotiation process is being done.  Emotions can ruin a deal...from both sides.

Sellers receiving a lower than expected offer could get angry and respond with simply a take a hike.  Or a seller may respond in such a way as to send a signal.   The signal may be a counter offer at equal to or just below the asking price... a "we can talk" signal.
 
Here are a few articles on the negotiation process. 
Whether buyer or seller remember this:  Not all negotiations will be successful.

Even if a man says he is willing to negotiate, such may not be the case. It has been said that “The man who says he is willing to meet you halfway is usually a poor judge of distance.”  

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