Page 134 - Selling secrets 5 18 2023

out if any of these situations apply to you. Eagerness to
please them might be read as desperation.

Buyers also play the waiting game. In real estate, acceptance
time can be a powerful tool in price negotiations. From their
perspective, the longer the house has been on the market,
the more flexible the seller will be. The same applies to
negotiations. The more they stretch out the negotiations,
the more likely they’ll get the price they want. Why? Buyers
want to become friendly, they want to create trust, and they
ultimately want your willingness to agree to their terms.
Your advantage is that the relationship is a two-way street
and they might not want to walk away empty-handed after
gaining your trust. By exercising patience, you can hold your
position on terms and price.

KNOWLEDGE IS POWER

Information is crucial to real estate negotiations. The more
information the buyer can glean from you, the more
pressure he can exert. The more knowledgeable side will
overpower the less-informed at the bargaining table. The
more insight the buyer has into your motivation to sell, the
more powerful he feels in the negotiation.

POINTS TO REMEMBER:

« The more knowledgeable you are about your home,
your market, and real estate terminology, the better
prepared you’ll be to negotiate with buyers.

« Make sure your price is based on solid research.

« Be clear about your goals, your motivations, and the

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