Your home is only going to sell for fair market value, Mr. Seller, and buyers determine what the market will bear. It’s what a buyer will pay, and if you don’t agree with that opinion, you’ll sit and wait. What you’ll wait for is the market to catch up with your opinion. Prices are still declining, even though the numbers of sales have increased.
Negotiating is a game we all have to learn, and it is a game. We can play cat and mouse, but that usually results in nastiness; we can be told the bottom line from the seller and try to get more than that number; or we can go to the bottom line in the first round; and the game will be over with "take it or leave it."
My method as a listing agent was to get the bottom line number from the seller, and I would negotiate until it was over. Many times I exceeded that number and the seller was thrilled; if I hit the number, the seller got what he/she asked for; and if I didn’t, the seller had to decide whether to take it or wait for the next buyer.
I think there are many buyer agents who have convinced their buyers that an unrealistically low number could result, and once the negotiating starts, it ends quickly. Many buyer agents are desperate for a deal and want their buyer to step up to the plate, so they paint a scenario that’s not probable. Builders become infuriated because it’s a personal thing with them; homeowners also get upset; and it’s best we don’t describe what listing agents go through to maintain a sense of calm with everyone.
A good buyer agent has control and has the buyer’s confidence to take the direction suggested by that agent. Buyer agents can make or break a deal depending on how much faith the buyer has in them. As a listing agent, we can always tell who has it and who doesn’t!!
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