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by David B. Zwiefelhofer
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our negotiating leverage. On the other hand, don’t be too stubborn. Flexibility and a willingness to see the buyer’s point of view will go a long way towards winning trust and eliciting compromise.
The tour of your home is very important in the negotiating process. Generally you’ll encounter many of your prospect’s arguments in this venue. You should anticipate these arguments so you can acknowledge their validity (remember, we can see our buyer’s point of view) and then gently counter them without appearing defensive.
A prospective buyer might point out that the street you live on is rather busy. You should acknowledge that it is busier than many residential back streets, but it’s only busy between five and six in the evening. And besides, you’ve already reduced your asking price by several thousand dollars for this very reason.
While showing your home, don’t hesitate to point out the bright spots that your prospect might appear to miss. Being shy and quiet won’t sell your house.
Be aware that serious prospects might visit your home three or four times and even then decide not to make an offer. Be patient.
If your prospect wants to negotiate verbally, decline. You have nothing to gain and money to lose. A prospective buyer might ask, "will you take $5,000 less?" An appropriate response would be, "I’ll consider any reasonable written offer." Anything not in writing is not binding so insist that all offers be written.
You should have "purchase agreements" available to give to serious prospects. You can get these at any office supply store or other places recommended by your title company. If a prospect is serious about negotiating to purchase your home it only makes sense that you ascertain whether they can afford your home. Buyers can easily “pre-qualify” themselves for a mortgage. Many mortgage companies will pre-qualify buyers from their web site or with a quick phone call. They will then present the buyer with a letter indicating qualification for a given mortgage value. You don’t want to waste time, |
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