The concept of having to “win” at negotiations might lead one astray from their desired goal. If you must win, you may not succeed at selling (or buying) your home. Yet many still enter into the negotiation process with plans of coming out on top, known as “getting over” on the other party.
You will sense it in the actions of those that think they have to win a real estate transaction. It might be the purchaser that tries to force the seller to come down further, regardless of whether the price of the home is at or above market value. After years of overpriced homes, with sellers reluctant to react to the slowdown of prospects and sales numbers, there are now finally homes for sale that are worth every penny of the asking price.
Some of those purchasers want to see seller blood spilled and a complete capitulation to the contract offer. How dare a seller jeopardize a contract by refusing to agree to all of the purchaser’s demands? Let’s just remove all the drama. Why?
The day is fast approaching when sellers will again be able to get what they ask for. Inventory continues to shrink. Is there any new home construction going on (other than two tract home builders who must build or give away land they own)? Ask me in June 2013 how the market is doing. It is highly likely that we will be in a seller’s market once again.
So how do you secure a win/win transaction? First, set your expectations to a manageable level. Sellers should not expect to get the world record price for property that needs work. And buyers shouldn’t expect to pay under a hundred dollars a square foot for the same home that everyone else is paying $147.37 for. It does not happen. It will not happen for you.
Next, go into the transaction planning to communicate with the party on the other side. Remember it is a business transaction and undefined emotions will just muck it up. Who could clearly voice their emotional reaction to orange shag carpeting anyway? If a buyer wants to badger a seller with threats of termination, in hopes of getting over on the seller, they might not expect to enjoy a holiday meal with that seller down the road. Does that really matter? Try it and see,
Sure, even ex-spouses get to the point where they can eventually talk to each other as adults. But if you are planning to beat up the other party in a real estate transaction, what cooperation can you expect if you later discover some details you would like to know more about? And there is always something later on that only that seller knows the answers to.
I am not suggesting you become best friends. But that seller probably has a fair amount of information you could benefit from having.
Stay civil and calm; be open-minded about any issue that comes up. There is an element of trust working for both sides. Sellers are usually expected to move out before buyers show up at closing with money. Buyers are trusting that sellers told the truth in the property disclosure form, and did not omit anything important.
Locate a Realtor that knows how to facilitate win/win deals. Which reminds me… do you know how to reach the author of this post? He will say to you: “I earn my commission in direct proportion to my ability to solve problems.”
And yours truly has a long track record of successfully solving problems. Ask for proof! Alan 505-470-7153