Negotiation can be the toughest part of a house sale. You want to get as much value from your home as possible, but your buyer would prefer to bag a bargain. Thankfully, the art of good negotiating is a skill like any other and can be learned – you just need a dose of confidence and a few tips from the experts. Here's how to handle it.
If you're under pressure to make a quick sale, don't let the buyer know. When you’re showing them around your home it can be tempting to relax and chat about the stresses of buying and selling, but talking about time pressures can weaken your position. They'll be more inclined to negotiate you down if they realise you're working against the clock.
Keep talking to your buyers, if you feel that their offer is too low then tell them why. Understanding why you think that the property is more valuable could inform their decision to raise their bid. A flat "no" could shut down all negotiations.
You want your buyers to like you. If you're rude or overly aggressive during the negotiation process they'll see you as the enemy – if you're kind, they'll see you as a friend. Any positive feelings they have towards you will make it harder for them to put in low offers. Start laying the groundwork early. When you're showing them around your house, smile a lot and ask them questions about themselves.
Use sealed bids
In a sealed bid auction, offers are kept secret until a set deadline, then the highest bidder wins. In the right circumstances it can cause a bidding war. If your buyers know (or think) other people are interested, they might go in higher than they wanted to ensure they get the house. Be careful, though – if your buyer thinks they've offered too much, they might try their hand at gazundering.
When you sell through HouseSimple.com, our professional negotiation service is included in the price. We'll handle the hard work for you so you can get the best price for your property.