People often think of Real Estate negotiations as having a strong arm. Not true. In fact, The Caton Team knows – Real Estate Sales is a meeting of the minds. It should leave both parties happy and feeling as if they sold at the right price and bought at the right price. Sometimes we’ll encounter people with a difference of opinion – so I thought I would share this article from realtor.com and Daily Real Estate News to share some insight on how to properly negotiate.
3 Ways to Make Counteroffers Easier
No matter if your client is buying or selling, counteroffers can pose sticky negotiations from both sides. Here are three tips for successfully responding to counteroffers from Desare Kohn-Laski, broker-owner of Skye Louis Realty in Coconut Creek, Fla.
1. Ask for something in return.
Sellers and buyers alike should remember that counteroffers are made because the other party outlines something very specific they want in the transaction, Kohn-Laski says. For example, if your buyers find that appliances are specifically not included in the seller’s counteroffer, then your buyers might want to offer more money to include the appliances in their second offer.
2. Offer incentives.
If you are on the seller side, your client could offer to pay the buyer’s homeowners association fees for a specific period. “Capitalize on the primary truth that most buyers will need extra cash after the big purchase,” Kohn-Laski says. Incentive ideas for buyers include interior repainting or a year of free lawn services. For sellers, covering moving costs or repair costs from an issue found during inspection could also be useful incentives.
3. Know when to split the difference.
Meeting the other side halfway is usually a winning solution; it’s an art that leads to closing deals, Kohn-Laski says. When a few thousand or few hundred dollars appear to be the hurdle, you can counter by offering to split the difference. For instance, if the list price is $435,000 and your buyer wants it for $430,000, split the $5,000 difference to achieve $432,500.
The Caton Team prides ourselves with fair and honest dealings. We know how to represent a seller to protect their best interests while managing the sale of their home. We also know how to write the best offer for a buyer, in order to get their needs met and an agreeable contract for the seller. In this competitive market – price isn’t always everything – curious why? Call or email us – we’d be happy to share our ideas.
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