You can’t lose if you don’t play

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!