Here are five top negotiating tips and strategies:
1. Be prepared to compromise on the price and terms in order to come to a win-win for both you and the interested party. Remind yourself not to get caught up in the emotion. Giving a little on your side usually encourages the potential buyer to move closer to your ideal price, instead of walking away all together.
2. It may be tempting to dismiss the first offer on your place but your agent will be able to do serious negotiation with the potential buyer. They will often be the most interested person – one who’s been looking around and knows your home is the one for them.
3. Negotiate everything because you may be able to get closer to the price you want by being flexible on other terms. Perhaps the buyer need a longer settlement, prefers a 5% deposit or wants your outdoor furniture included in the sale.
4. People may give your agent a verbal offer but get them to commit to their offer in writing and sign an agreement with a deposit. That way you know they’re serious.
5. If a sale does fall through, it’s important to know when to move on. It doesn’t matter whether the prospective buyer couldn’t get a loan, sell their own home or saw a more suitable place – it doesn’t mean someone else won’t want your property!
Discuss the options with your agent and focus on the right sale.