HOW TO NEGOTIATE THE SALE OF A HOUSE?

 

NEGOTIATE THE SALE OF A HOUSE
NEGOTIATE THE SALE OF A HOUSE

Any mistake in not knowing how to negotiate the sale of a house can cause the buyer to abandon the operation. Or lead you to sell below its real value. That’s how important it is not to fail in this phase of the property sale process.

In this article we want to give you some tips to achieve better results when negotiating the sale of your property. Are you ready? Keep reading!

Prepare your arguments

Used houses have their advantages: you can know if they are safe, how is the quality of the materials. The behavior of the neighbors, what are the nearby points of interest. Take advantage of this information if you don’t know how to negotiate a home sale.

Include in your arguments all the extra services that increase the benefits of acquiring the property (large windows, home automation, superior quality finishes, cellar, parking, etc.).

On the other hand, having data from potential buyers is also useful to highlight more advantages of the property; For example, if the client has small children, you can tell them about the proximity of schools, gardens, hospitals, parks, among other places of interest for the family.

A good negotiator sells the “why” and not the “what.” Focusing on the “why” is giving weight to what the client needs to solve and highlighting the benefits that they will obtain with the purchase of your house.

 

How to negotiate the sale price of a house?

Homeowners often put a sale price well above the real value and buyers know it. It is for this reason that you should always be prepared to receive offers.

When it’s time to discuss the price, don’t be too quick to reply. Listen carefully to the client as you prepare your arguments to negotiate. Avoid making discounts the first time because you will only show insecurity. This is key if you don’t know how to negotiate a home sale.

On the other hand, if you will accept a discount, do not agree to the first offer that the buyer makes; set a price above to reach an agreement. Successful negotiations require tradeoffs.

One way to support the price you have set is to find out about the value per square meter of properties with similar characteristics in the area. However, the ideal way to avoid significant discounts when negotiating with the buyer is to have an appraisal of the property.

In our Real Estate Training you will learn to value your property with an agile, proven methodology that guarantees to set the best market price: not too high so you don’t lose the sale, nor too low so you don’t lose money.

 

Learn to control your emotions

If the buyer client notices you anxious, worried or desperate to sell, they could distrust and give up buying the property. Similarly, the urgency to sell could lead you to accept any offer without analyzing if it is the best option.

Knowing how to negotiate the sale of a house is to fill you with patience, tranquility, and security. Controlling your emotions will allow you to adapt successfully to any situation.

 

Meet the buyer

Professionals who know how to negotiate the sale of a house, before proceeding with the operation, carefully profile the interested parties, requesting documents that prove their income. This is a way of not wasting time in sterile negotiations.

Also, know who your buyer is, what their real motivation is, how their family is made up. If they intend to remodel the property, if they will buy with a mortgage loan; These are things that you should know in advance to determine if your home meets their needs and how far they will be willing to negotiate.

 

Establish your strategies and tactics

A successful negotiation is not a matter of luck, but of preparation. Have a well-defined plan on how to negotiate the sale of a house, where you contemplate what you can offer the other party. What to say, how to say it, when to say it and what are your limits.

In this sense, knowing how to negotiate the sale of a house does not have to be limited to price. It tries to include other equally important aspects in the operation. Such as leaving the furniture, guaranteeing the delivery time, assuming some expenses of the operation, making minor repairs, among others.

Knowing which factors are of interest to the buyer will allow you to negotiate in this regard. You must find out what you can negotiate with other than price. If you prefer to sell your property with a real estate agent,

In writing and during the week

Those who know how to negotiate the sale of a house affirm that the operations that involve the sale of a property are carried out face to face and are signed in writing. In this way, neither party will waste their time and you will have the assurance that the operation will be carried out.

We recommend that you avoid accepting a verbal offer on a Friday, as the buyer could panic about the purchase and evaluate other options on the weekend. Better let him know that you will think about it and you will give him a concrete answer on Monday.

 “Better safe than sorry”

Prevention is essential for a successful negotiation. Most experts agree that in any negotiation preparation constitutes 60% of the final success.

With this we want to tell you that if, for example, you have to make major repairs on the property. Have a remodeling budget at hand to clarify any questions that the buyer has in this regard. This budget will also help you avoid asking for a more expensive one from a third party and using it as an argument to lower the price.

Another way to prevent the buyer from rejecting the sale is to have knowledge about the procedures and documents involved in the sale, not only to project a serious and safe image , but to avoid problems with the operation.

To avoid wasting time if you do not know how to negotiate the sale of a house, have the Promise of Sale ready and allow the buyer to review it before proceeding with the operation. We recommend that this document be made by public deed. This form usually guarantees better conditions when demanding the forced fulfillment of the contract.

 

Master body language

Words are not enough to know how to negotiate the sale of a house successfully. Many owners ignore the power of image and body language in front of the buyer. Never forget that the first impression is crucial. Everything influences that first impression that we project; the way of dressing, the smell, if we arrive empty-handed or with relevant documents for the buying and selling process, etc.

In the same way, don’t forget to be empathetic, smile to transmit positive energy. Keep your hands in sight and keep your eyes straight ahead. Having a dominant position builds trust and credibility, just what the buyer looks for before making a purchase decision.

 

Be a good listener

Knowing how to listen to the customer is one of the most important skills of a good salesperson who knows how to negotiate the sale of a house. Pay attention to the buyer’s ideas, concerns, and opinions. In this way, you can offer them options that best suit their needs, build trust, and handle objections confidently.

In this regard, creating a list of objections and looking for possible solutions can help you neutralize them.  Know how to “adapt” the offer at the time of negotiation. Remember, all objections can be dealt with, but you must prepare for it. In the Real Estate Training you will learn different strategies to convince the buyer client.

 

Other tips on how to negotiate a home sale

  • Ask clients for references, as well as employment and identification data. And verify them rigorously, before negotiating the sale of a house.
  • Buyers are looking for details to argue their offer. Do not give space to imperfections: repair the floors, paint the property, renew the faucet.
  • Many homeowners say they have “multiple offers” to put pressure on potential buyers, when in fact they have nothing. Avoid misleading those interested. This argument has little credibility so use it only if you really have offers on the table.
  • If your property has a short time for sale and the buyer offers you a significant price reduction, consider waiting a bit until someone with the financial capacity to take on the operation appears. This does not mean that you refuse to accept the first offer received. Only that you analyze it and study it carefully. If you have arguments to negotiate a higher price, use them.

 

 

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