Respond in a positive manner regarding concerns: If a potential buyer makes comments about major concerns, you could offer to pay for a home inspection to put them at ease.  If there is damage shown in the inspection, you could then offer to make the necessary repair or to reduce the asking price slightly to offset the cost of the repair.

     Be honest: Build a relationship of trust with potential buyers.  Do not try to hide every flaw.  If a potential buyer points out a damaged countertop, cracked drywall, etc. be honest, tell them how it happened and let them know if you had considered the damage into your asking price or explain how you plan to fix the problem.

     Do not judge offers too quickly: In the event that you get an offer far below your asking price, do not immediately eliminate it.  Most times the buyer really wants the property.  Talk to the buyer about the offer.  Ask if they saw something that may have caused them to offer such a low price.  If you already had an appraisal and/or a home inspection you may be able to get the buyer back on the bargaining table; with you now having more leverage.

     Evaluate leverage: All negotiations depend on leverage.  If you sense a buyer really likes the property, you may have more leverage.  The buyer may be transferring to the area or may have another home closing soon which will also give the seller more leverage.  If the particular local economy is a ‘buyers market’ there may be many homes available and the buyer may have more leverage.  During the negotiation, or counter-offer process, you should attempt to weigh your leverage and make counter-offers appropriately.

     Accommodate the needs of a buyer: Many times, price may not make the buyers final decision.  You can make other concessions that could influence the decision for the buyer.  Depending on the circumstances: offer to include window treatments, appliances, etc.  You could also offer to speed up, or push back, the closing date.  Ask the buyer what their needs may be and try to accommodate them.










*The information provided is only the opinion of Midwest Home Tour and its respective owners or employees. It is advised to seek professional advice regarding any real estate matter.