1. Don’t … get emotional.
So your house is on the market and an offer comes in. This is a time when emotions can get out of hand. You’re thinking it better be a good offer. They better not low ball me. I am not caving in on that stipulation. There are a multitude of other potential contingencies that a buyer could ask for. It is really important here that you detach yourself and really treat this as a business transaction. Not as, this is my home of 20 years, this is where my kids grew up, or whatever other emotional attachment you have to the property.
Keep your objectivity. It is a business transaction and you are going to handle it that way and negotiate the terms of the offer. You can say no to a contingency and not cave in. That’s part of business as well. But understand the buyer is trying to get the best deal for themselves as possible and you are trying to get the best deal for yourself. Both are ok and are part of the business transaction. Don’t get worked up or get insulted when they are trying to get a deal. Stay detached, keep emotions out of it and complete the transaction.
2. Don’t … get offended by a lowball offer.
I see this so often. Especially in a market where there are many options to choose from. Again keep in mind that this is a business transaction. Your job is to sell, the Buyer’s job is to buy. The Buyer wants it for the lowest price possible and you want it for the highest price possible. Don’t let the initial offer get you worked up. I have seen many deals start with a low ball offer and end up great for the seller. Stay objective, keep your cool, let the buyer do their thing and you do yours. This is where a good agent can be very helpful in determining the quality of the buyer and whether they are reasonable and realistic or not.
3. Don’t … lose sight of the big picture.
I will say it one more time. This is a business transaction. No time for emotions, they just get in the way. So after you negotiate and finally are getting close, don’t lose sight of the big picture. If you are selling a $300,000 property and the last thing standing is a gap of $1,000, don’t blow the deal over it. It is easy to get caught up in negotiations and feel like you have given in so much and can no longer budge. That is when you have to step back and look at the big picture. In the whole scheme of things will compromising on this last little detail really make a difference to you down the road? If not, then bend a little. Don’t risk losing the deal over something minor because you refuse to give in. Close the deal and move on to your new destination.
This is where a great agent earns their money. Negotiating for you to get you the most amount of money and the least amount of concessions. If you are thinking of selling your home, give me a call. Abe Safa 843.360.2145.