5 NEGOTIATING TACTICS THAT KILL A SALE

Dated: 06/01/2018

Views: 186

Negotiation is a subtle art in real estate, but skilled negotiators can usually find some common ground that satisfies all parties. On the other hand, using the wrong negotiation tactics can sink a deal pretty quickly. Here are some negotiation tactics buyers (and real estate professionals) should avoid:

  1. Lowball offers: Going far below market value when you make an offer damages your credibility as a buyer and can be insulting to the seller. The seller has a range in mind that they’ll accept, and if you’re not even approaching the low end of that range, they won’t even consider the offer.

  2. Incremental negotiations: Don’t continue to go back to the seller with small increases in your offer ($1,000 or less). The constant back-and-forth can grow tiresome and lead the seller to consider other opportunities.

  3. “Take it or leave it”: Try not to draw a line in the sand with your initial offer. The seller can get defensive and consider other offers if you immediately show that you’re unwilling to budge. Even if it’s true, don’t make a show of it.

  4. Nitpicking after inspection: Obviously if inspection reveals a major issue, it should be factored into the final sale price. But insisting on a lower price for every minor repair can put negotiations in a stalemate.

  5. Asking for more, more, more: Some buyers will request that the sellers throw in add-ons like furniture or appliances that weren’t included in the listing. Try to avoid giving the seller a reason to build up resentment and think that you’re being greedy.

Blog author image

Corby Horlings

I began selling real estate in 2004 after 10 yrs. in the banking and mortgage industry in Denver, Telluride, and Grand Rapids. Over the last 23 years I've handled 1000's of transactions involving buy....

Latest Blog Posts

Demand Staying Strong For Months To Come

Home Buyer Demand Will Be Strong for Years to ComeThere has been a lot written about millennials and their preference to live in city centers above their favorite pizza place. Some have even gone so

Read More

The Key To Home Buying A Home? Tax Refund!

Your Tax Refund Is The Key To Homeownership!According to data released by the Internal Revenue Service (IRS), Americans can expect an estimated average refund of $3,143 this year

Read More

Perfect Time To Sell Your House?

Thinking of Selling Your House? This is a Perfect Time!It is common knowledge that a great number of homes sell during the spring buying season. For that reason, many homeowners hold off 

Read More

Why Not To Wait for Spring to Sell

Why It Makes No Sense to Wait for Spring to SellThe price of any item (including residential real estate) is determined by the theory of ‘supply and demand.’ If many people are looking

Read More