Page 133 - Selling secrets 5 18 2023

Perception plays a big role in negotiations. If an interested
buyer thinks you have rejected offers higher than his, you
have the upper hand and he may feel pressured to offer
more.

On the flip side here, the buyer may let you know that yours
is not the only home he’s interested in, in an attempt to
pressure you to accept his price. The key to being a power
negotiator is to stay calm and focused during the process to
avoid costly mistakes. Knowing your buyer’s
motivation—without exposing yours—will give you the
edge to win.

LET TIME BE ON YOUR SIDE

Time pressure is inescapable in sales and depending on
which side of the sale you’re on, it can be your best friend or
your worst enemy. It’s present during antique auctions,
construction job bids, car sales, and even when a child begs
a parent for candy at the checkout lane. Time is a powerful
tool in negotiations. Real estate agents will tell buyers that
they won’t get a good buy unless a seller is under pressure.
For this reason, smart home shoppers will want as much
information about you, the seller, as they can get.

If a seller is in foreclosure and needs to sell before losing the
property, a buyer has the upper hand; they know the seller
is under a time constraint. Buyers look for time-sensitive
situations to push their price. Sellers who are behind on
mortgage payments, recently retired, or are under contract
for another home and dependent on this home sale are
prime candidates for high-pressure tactics from savvy
buyers. Buyers may come to you and ask questions to find

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