Dawn Thomas finishes how to negotiate a deal

Successfully Negotiating the Deal Part 2

by The Dawn Thomas Team on November 20, 2012

Today we have the conclusion of our two part series Successfully Negotiating the Deal! With rare exception, negotiating the transaction is the most complex part of selling a home. At the same time, it’s the one element that involves the most creativity. That’s why you need to have an experienced and savvy REALTOR®. The Dawn Thomas Team is successful with such contracts and negotiations; we know how to Negotiate like a tiger for you! Contact the Dawn Thomas Team today if you’re thinking about Selling your home. And remember, no matter what agent you pick to represent your home and Sale make sure they know how to handle the art of negotiation!
Understand and Respect a Buyer’s Priorities
During the negotiations, if you can find out more about the buyer’s priorities, you’ll not only improve your position, but you’ll also be able to resolve any obstacles more creatively and sensitively.
For instance, if a buyer is adamant about the sale price—perhaps because they love your property, but they’re at the limits of their available financing—they might be more flexible about the closing date or willing to make concessions about some other terms.
There is no “one size fits all” approach to negotiating. The more you know about the buyer’s priorities, the more you’ll be able to work with them in order to achieve your own priorities.
Have You Really Found The Right Buyer? If So, Make the Deal Happen
Particularly in a market where reasonable offers can be hard to come by, once a buyer makes one you should be willing to make a few compromises to seal the deal. You just never know when the next serious offer will come along – or what it will cost to wait for it.
That said, here are a few basic principles of successful negotiation to consider if you’re committed to completing your sale:

• Remember your priorities and respect the buyer’s. Don’t let small things get in the way of your better judgment.
• Disclose everything. Smart sellers proactively go above and beyond legal necessity to disclose all known defects to their buyers. Most states have property disclosure forms: use them. If the buyer knows about a problem, they can’t sue you later.
• Ask questions. Offers may contain complicated terminology, sometimes three or more addenda. Your REALTOR® will help clarify everything for you.
• Respond quickly: when buyers make an offer, they are in the mood to buy. But moods change, and buyers are known to get buyers’ remorse. Don’t delay if you want the sale.
• Stay calm and be patient. At all times keep communication civil and agreeable—even if the buyer gets tense—or you might lose your sale.
• If necessary, defer until later. If small issues get in the way of big ones, focus on and consolidate your agreement on the big issues and come back to the small ones later.
• Meet halfway. At the end of the day, if there are disagreements about relative small expenses—split the difference and smile.
• Take care with contingencies. When you’ve landed your buyer, your signed acceptance of a written offer becomes your sales contract. Except for removing any contingencies, this document is the binding basis for the sale.
• Rely on your REALTOR®. It’s your agent’s responsibility to represent your best interests every step of the way: your success is theirs.

The reality is that most negotiations proceed without much problem. In the event that there are difficulties but you’re still committed to selling, remember: where there’s a will, there’s a way.

This blog is courtesy of The Dawn Thomas Team who is an award-winning Real Estate Agent team at Intero Real Estate Services in Los Altos 650-701-7822. We help nice people with selling and buying homes from Palo Alto to West San Jose!

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