When selling a piece of Southwest Florida real estate, we all want the best results. That usually means getting top dollar for our property.
Unless you can negotiate skillfully and effectively, though, you won’t get full value for your property – especially in a competitive market.
Here are some tips to help you negotiate better and get the most from your buyers when you go to sell your home.
Ask for More Than You Expect to Get
When setting a list price, it’s okay to ask for a bit more than you expect to get. Why? The additional money gives you negotiating room. If you want $300,000, ask for $315,000. You can negotiate and still get your original asking price.
Forward Price Your Home
Another tip to help you in negotiations is to forward price your home. This is when you use what other homes have sold for and add in price appreciation.
Let’s say the market is appreciating in price by 10 percent per year. The last home to sell in your area was $250,000. Ten percent of $250,000 is $25,000. Cut that in half and add it to the listing price. Now, your home is going for $262,500, which factors in how much homes will be a year from now.
This way, you can get more value for your home and take advantage of a hot market.
Always Make a Counter-offer
There will be times when you are given a laughably-small offer to buy your home. Don’t take it personally, and don’t get insulted – and don’t walk away from the table. Always give a counter-offer. Come down slightly on your price, to show that you are willing to talk. Most of the time, the other party will give you a better offer the second time around.
Get Ready for Concessions
If you find yourself in a deal that you really want to close, be prepared to give concessions. They don’t have to be major; it’s the timing of the concession that matters most, not the size.
For example, you can offer up a piece of furniture that the buyers saw and liked. Offer a concession like this toward the end, after negotiations have been going back and forth. A small concession can often swing the balance in your favor and result in a closed deal.