Negotiating tips

How to win the home you want or sell at a higher price

I am going to tell you about this single mother.  She was extremely high strung.  She had a Farmington home for sale.   She finally got an offer for her Farmington home after a year and a half.  The offer was about $40,000 less than the listing price.  About 15% less.  But let’s forget all about the money side and concentrate on the basic issues.

Right now it is a Metro Detroit buyers market.  Metro Detroit home buyers are calling the shots.  Whether it is Oakland County, Livingston County, or Wayne County home buyersare offering very low prices.  And if they don’t get the low price they may just walk away and buy another home.  So this lady has not gotten an offer on her Farmington Hills home for over a year and a half.  So Michigan home buyers were not jumping at the price or at the home.  She counter offered and put a short time limit on the counter offer.

First mistake……It is a buyers market.  Why would you rush the buyer.  It sends a message that you think you are in charge.  That you are in a rush.  Hey the Farmington Hills home has been on the market for a year and a half.  What will a few extra days mean?

If you are a Oakland County home seller be patient.  By rushing the opposing side you may create a feeling of having to sell quickly, or creating animosity.  Patience is important.  Sit back and relax.  Let the other side think about it.  If you as the home seller get another offer that is a bonus to you.  They low ball buyer may lose out.

There is nothing to gain if you are the buyer or the seller by rushing the other side.  All the rushing does is send the message that you want the deal to close quickly.  You then have given away your bargaining power.  So relax.  I know it is stressful but we’ll get through it.

 

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Posted in Buyer Tips, Farmington Hills, First time home buyers, Seller Tips

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