Nibbling At the Selling Price
Hi folks,
When buying a home or property most purchasers will have to undertake some form of negotiation when they find it. How much or how little they can afford to negotiate depends on the market: negotiating too hard in a sellers’ market is never worth it as there will be many other buyers keen to pay more just to secure a property. It is worth considering the strategy of negotiating from the asking price to an acceptable selling price and realising that there are many things that inexperienced buyers say in the stress of the moment that might make them miss out.
Many so-called experts say that buyers should hide their interest in a property.
While it is foolish to tell a selling agent that you are so keen that you will do whatever it takes to secure the home, it is equally foolish to denigrate the home to try and hide your growing attachment to it.
Most agents can tell stories of vendors who have chosen to take less for a property in order to sell to someone they think will love it and look after it, and will turn down purchasers who appear not to be ‘suitable’ especially if they have two sets of purchasers willing to pay the same price. After all, if you have lived in your home for ten years, planted the garden and painstakingly renovated the house yourself, who would you rather sell to? A nice young married couple who have admired your garden layout and want somewhere for their toddler to play and have made a realistic offer, or a brash buyer who has come up with a list of faults in order to justify a low offer?
Furthermore, comments such as ‘I’ve seen other properties that are better than yours and cheaper’ rarely work. Sellers are human too and some will even cut off their nose to spite their face if they are riled by comments made by purchasers they think a mercenary or insensitive. Business is business, but it is carried out by human beings who are often motivated as much by their emotions as by logic – and if there are more buyers that houses for sale, vendors can afford to indulge their spleen and not lose any sales dollars over it. Ultimatums also rarely work. A buyer who says: “That’s my final offer.’ will very rarely get a vendor to reduce the price while a buyer who nibbles away, going up a little at a time will often bring a vendor down lower than they initially planned to go.
If you are thinking of selling your home, would like an appraisal, or want more information on the Upper Hutt property market please call me on the numbers below or contact me via email steve@steveslicker.com alternately fill in your details here on my website.
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Kind regards, (04) 212 6787
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