Barbara Brant's Blog
602 Park Pl, Raynham, MA 02767
31 Juniper Ln, Taunton, MA 02780
Selling a home may seem simple at first, but negotiating with a homebuyer sometimes can be problematic. Fortunately, home sellers who understand the art of negotiation may be better equipped than others to accelerate the home selling process and optimize the value of their residences.
What does it take to become an expert home selling negotiator? Here are three negotiation tips for home sellers:
1. Stay Patient
It is easy to become emotionally attached to your residence, especially if you have lived in a home for many years. However, a home seller will need to do everything possible to keep his or her emotions in check during negotiations with a homebuyer.
In some instances, emotions can get the best of a home seller. And if this happens, a potential deal with a homebuyer may collapse.
For home sellers, the goal of a home selling negotiation is to maximize the value of a residence. Keep this goal in mind as you navigate negotiations with a homebuyer. By doing so, you may be able to maintain a calm, patient approach as you work toward selling your house.
2. Evaluate the Real Estate Market
Although you've allocated substantial time and resources to enhance your home over the years, the value of your residence may fluctuate based on the current real estate market's conditions. But if you conduct plenty of housing market research before you enter negotiations with a homebuyer, you can understand exactly what your home is worth today.
Conducting a home appraisal usually is a good idea. This appraisal will enable you to learn about your home's pros and cons and identify potential issues that may prevent you from maximizing the value of your property.
Furthermore, study the prices of comparable homes in your area. With this housing market insights at your disposal, you can enter a home selling negotiation with the information that you need to make data-based decisions.
3. Hire an Experienced Real Estate Agent
Home selling negotiations can be tricky, and for home sellers who want extra help, hiring an experienced real estate agent is essential.
An experienced real estate agent understands the ins and outs of home selling negotiations. As such, he or she will share expert negotiation insights with you to ensure that you can get the optimal price for your residence.
Your real estate agent will provide recommendations and suggestions throughout the home selling process and may even help you avoid negotiations altogether. Plus, this real estate professional is happy to negotiate on your behalf. That way, you can avoid the stress and anxiety commonly associated with negotiating directly with a homebuyer.
With an experienced real estate agent at your disposal, you may be able to accelerate your journey through the home selling process. Your real estate agent will keep you up to date about offers on your home and ensure you can get the best results possible.
Employ an experienced real estate agent, and ultimately, you can boost your chances of stress-free home selling negotiations.
Putting your home up for sale can elicit a myriad of emotions from you and your spouse -- everything from excitement and anticipation to fear and sadness. It's only natural to feel a mixture of emotions, especially if your home represents years of memories, countless milestones, and stages of family growth.
A cautionary note to keep in mind is that it's easy to get caught up in emotion-based decisions that could derail your chances for making a fast sale.
A primary example would be pricing your home higher than it might actually be worth. Despite the fact that you've experienced great family memories there and spent tens of thousands of dollars to maintain, upgrade, and beautify your home, those factors usually do not translate into a sale price that exceeds the property's appraised value. Your perspective, which may be based on subjective criteria, such as all the "blood, sweat, and tears" you put into your house -- not to mention the "TLC" that went into it -- does not hold water in the minds of would-be buyers.
What Does Determine a Home's Value?
The unvarnished truth is that the value of your home is mostly based on prevailing market conditions, the price at which comparable homes in your neighborhood recently sold, and what the market will bear. Effectively setting a price that will bring in the most money without driving away qualified and otherwise-interested buyers is a delicate balance. The homeowner rarely has the objectivity or the specialized knowledge to accurately set the right price. That's where real estate agents comes in, and why it's advisable to sell your home through a licensed agent, rather than attempting a "For Sale By Owner" approach.
Minimizing Bumps in the Road
A good real estate agent will work on your behalf to effectively market your home, collaborate with other agents in the area to schedule showings and spread the word about your listing, and advise you on ways to improve both the curb appeal of your home and its interior appearance. Your agent can also provide indispensable negotiating help, as well as guidance about seller disclosure requirements and other government regulations.
The bottom line is that real estate agents are well-versed in the intricate process of listing, marketing, and selling residential property. Since there are a lot of forms to sign, deadlines to meet, agreements to reach, and formalities to handle, those are among the many sound reasons to enlist the help of a professional.
Although the process of selling a residential property often involves delays, setbacks, and obstacles, most real estate agents are quite adept at solving problems and getting past difficulties. In addition to the marketing, networking, and strategizing they're doing on your behalf, a good agent can also be counted on to provide you with regular progress reports and boost your spirits when you're feeling discouraged.