Selling a home here in Northern Virginia can be an emotional process. As a home seller, you have worked to set what you deem to be a fair price, staged your home as well as possible, and followed all of the recommended steps for a quick sale. All you need to do now is seal the deal with the home buyer.
Enter the negotiations.
Negotiating is not the bad word some feel it is. It does not always imply a “winner” and a “loser.” And while there are many ways to approach and conduct negotiations, there are at least three ways to blow it. Here are some strategies to avoid common negotiating mistakes en route to closing the home sale:
Be Reasonable with Older Homes’ Prices
While the housing market is improving, an older home that is in need of updates cannot compete dollar for dollar with well-maintained or newer homes. The chances are good that if you have lived in your home for at least ten years, it will need a makeover. During this time it is also likely that your home has encountered its fair shares of dings, which even though you have grown accustomed to them, new home buyers will not be as okay with them. So when you are settling on a sale price for your home, be sure to set a realistic number and work towards that goal.
Be Cool – Low Offers Happen
Selling something you are as emotionally invested in as your home can make negotiations difficult, so when a buyer comes in with an offer that you feel is significantly less than what the home is worth, stay cool. It is not personal. You know that the home buyer is interested in the home, or there would not have even been the initial low-ball offer. Understand that it is a negotiating tactic. Seek out clarity as to where the offer came from to make sure that the information the home buyer is basing the offer on is up to date and accurate.
Make Room for a Compromise
Selling your home does not have to be an “all or nothing” approach. In fact, when home sellers assume this position it often results in their homes sitting on the market for long lengths of time. As a seller, you need to understand the market while engaging buyers on their sticking points, working towards common ground. In negotiations like these, a little flexibility can go a long way!
Home buyers and their reactions are mostly predictable. They will discount the value of the improvements you made when getting the home ready for sale. Their inspections will undoubtedly turn up something hidden that needs to be fixed. Their terms may catch you off-guard. The list is endless. However, thanks to our years of experience in selling homes, we are happy to help you throughout this process. Give Homes Re-Imagined a call today at 703-552-1372 and see how we can you help you sell your home fast!l