Negotiations are on the Rise in the Housing Market
With a housing market with low inventory, we have seen a rise in negotiations.
Negotiations include: (1) The buyer who wants a deal on your home (2)The buyer’s agent who wants to get the most for his client (3) The inspector who works for the buyer and may find issues with your home (4) The appraiser who may challenge the value of your home.
The current environment driven by factors such as low inventory and COVID-19 has bidding wars becoming the norm, which can become an arduous and stressful process. There are more buyers in the market that it can handle so you need to be prepared. Having someone guiding you and ensuring your best interests is critical in this process.
Knowing how to negotiate to maximize your results takes some skill and practice, and if you have not been in that role before you could be leaving money on the table.
Hardball tactics need to be considered in this environment, such as;
- Sticking to your list price after your first counteroffer
- Rejecting an offer without making a counteroffer
- Accept offers only after an open house to foster a sense of competition
- Put expiration dates on any counteroffers, this pushes for quick responses
- Increase the purchase price if you agree to pay closing costs
Do you dislike negotiations and do you feel like you always get the short end of the stick? Leaving a negotiation with remorse is not the desired result you want. As your realtor representing the sale of your home, we handle all the back and forth so you can rest assured your best interests are being represented.
Make sure you have experts on your team to ensure you are satisfied with the sale of your home. At Elite Sales Group Real Estate, we represent you not only as your realtor working hard to get you the best outcome, we treat you like family. Call us today if you are considering listing your home for sale.