Know How to Negotiate

If you think that negotiating is something only a buyer will do, you’re very much mistaken. Even as a home seller, you will, at some point in time, negotiate with your potential buyer. Remember that, negotiation is a two way street.

When you are negotiating, make sure that you remain detached from the entire transaction emotionally. Bear in mind that this is a financial matter and, when dealing with money, it’s always better to think with a clear head. Don’t look at your house as the home that sheltered you through many storms in your life, but view it objectively as a solid structure made of stone, timber and mortar.

It is also important that when you are negotiating (or presenting a counter offer to your buyer) you don’t just think of the actual money changing hands, but the “net” profit. Take into consideration all the costs that you (or the buyer) will shoulder. The money you get from the buyer who offers to pay a little less than what you’re asking for and also shoulder all other incidental expenses may be more than the total net amount you’ll get from a buyer who will pay your asking price but will leave all incidental costs for you to settle.

Keep mum about the lowest price you are willing to accept. Don’t tell anyone, even your friends and family (except your partner, of course). By letting buyers know that you’re willing to settle for far much less, expect them to haggle in order to get that amount (or even lower). Just accept the offers that come in and negotiate if you don’t find them suitable.

Finally, you should always keep your temper in check and practice utmost decorum and tact at all times. You cannot raise your voice or utter sarcastic remarks as these will turn your buyer off and leave you with a bad reputation. Negotiation is all about reaching a compromise, and this cannot be done if you enter the battleground with a hot head and a short temper. Be patient and amiable, and eventually, you’ll settle things nicely.


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