You can’t lose if you
don’t play
The
Real Estate market is coming back and gaining speed. With stronger opportunities for sellers to succeed, many are
itching to sell and just get it over with already. However, I’ve seen many listings recently sell for below
fair market value, pocketing the seller less for no reason other then bad
strategy. These sellers may have
sold, but many lost because they chose to play the game. Losing in Real Estate can mean upwards
of tens of thousands of dollars, and as the market gains steam I am reminding
my sellers– “you can’t lose if you don’t play”.
So don’t play
It’s
an odd phrase, I understand. What
I am trying to portray however is that you can’t sell at a loss if you don’t “play”
around with negotiations.
Your list price as well as price changes must be strategically decided
on before you go to market. Have a firm understanding of what your realistic
goals are. This includes knowing
how much of a loss from anticipated
sales price you are willing to accept.
Having a solid plan in effect will allow you to simply not “play the
game” if a buyer is trying to low ball you. Many sellers will get anxious and may have agents pushing
them to sell – but if you’ve made your mind up already as to what your true
bottom dollar is you can avoid the game, pick up your ball and proclaim, “I’m
not playing”
Be sure your agent is
on your team
I
run into it often; sellers who become frustrated with their agent constantly
asking them to lower the list price and/or push them to accept a low-ball
offer. Your Realtor® has to be by your side and have your
proverbial “back” each step of the way; WITH the same playbook you
possess. Agents don’t get
paid unless you sell or buy, so be sure your Broker or Agent is working for YOU
and not their commission. If the
strategy of the sale is agreed upon at the start of the sales process, there
should be no pressure to accept an offer your gut simply says no to.
Prove your point
The
information available to buyers and sellers alike has become almost
infinite. Hearsay is a thing of
the past; and all facts, sales and trends can be checked and verified – often
then and there on a smart phone.
Because of this we must be
prudent in obtaining and presenting our “side of the story” relating to list
price. The number one factor today
in gaining top dollar is the ability to prove your worth. Your Realtor® should be able to help
you with this by providing comparable sales in your immediate area. Remember, we ALL think our homes are
worth more – when it comes to pricing be honest with yourself and what you are
offering. If you know what
your home is worth – there is no need to play the negotiation game, you might
be able to steal a page from CarMax and have “no haggle pricing” !!
I
hate to see sellers sell for less out of fear, pressure or simply because they
didn’t have the correct information at hand (unless I’m buying the house of
course). Take these thoughts into
consideration when selling, stick to your guns and laugh your way to the
bank. With proper preparation you
can make the rules in your negotiation game, and possibly win without even
playing!
