5 NEGOTIATING TACTICS THAT KILL A SALE

Dated: 09/28/2019

Views: 146

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

Andy McCreedy

HELPING YOU CLOSE ONE DOOR TO OPEN ANOTHER! I understand that buying or selling a home is more than just a transaction: it’s a life-changing experience. That’s why as your real estate professi....

Want to Advertise on this Site?

Latest Blog Posts

CONSIDER THIS WHEN TO REFINANCE

Refinancing your mortgage is something most homeowners consider at least once throughout the lifespan of their home loan. It allows you to pay off your previous loan by applying for a new one that

Read More

CREATE AN EVACUATION PLAN FOR YOUR PETS

An evacuation plan is a necessity for every home, especially if you live in an area where fires, earthquakes, hurricanes, flooding, and other disasters are a possibility. Many homeowners create

Read More

4 Secrets For A Stress Free Transaction

It's extremely important to have a proper plan in place before purchasing your home, here are 4 steps to help make your transaction less stressful.*1. LAY GROUNDWORK: Save and organize your

Read More

TOP TIPS FOR HOUSE HUNTING ONLINE

Hunting for a new home online is a great place to start your search, but it should not be your end all be all. Good listing agents are excellent at highlighting the best features of the home, but

Read More