5 NEGOTIATING TACTICS THAT KILL A SALE

Dated: 05/11/2018

Views: 23

Negotiation is a subtle art in real estate, but skilled negotiators can usually
find some common ground that satisfies all parties. On the other hand,
using the wrong negotiation tactics can sink a deal pretty quickly. Here are
some negotiation tactics buyers (and real estate professionals) should avoid:

  1. Lowball offers: Going far below market value when you make an
    offer damages your credibility as a buyer and can be insulting to the
    seller. The seller has a range in mind that they’ll accept, and if you’re
    not even approaching the low end of that range, they won’t even
    consider the offer.
  2. Incremental negotiations: Don’t continue to go back to the seller with
    small increases in your offer ($1,000 or less). The constant back-and-
    forth can grow tiresome and lead the seller to consider other opportunities.
  3. “Take it or leave it”: Try not to draw a line in the sand with your initial
    offer. The seller can get defensive and consider other offers if you
    immediately show that you’re unwilling to budge. Even if it’s true, don’t
    make a show of it.
  4. Nitpicking after inspection: Obviously if inspection reveals a major issue,
    it should be factored into the final sale price. But insisting on a lower price
    for every minor repair can put negotiations in a stalemate.
  5. Asking for more, more, more: Some buyers will request that the sellers
    throw in add-ons like furniture or appliances that weren’t included in
    the listing. Try to avoid giving the seller a reason to build up resentment
    and think that you’re being greedy.

piggy bank

Blog author image

Kristi Grimes

A LITTLE ABOUT ME I am a lifelong Texan, born in San Antonio, but raised in the small town of Floresville where I met my high school sweetheart and husband, Chris. We moved to Houston after I graduate....

Latest Blog Posts

Pro Tips on Hiring a Contractor-Be Careful out There

Top 8 Pro Tips on How to Hire a ContractorTOH general contractor Tom Silva shares pro tips for how to hire a contractorBy This Old House magazine Get RecommendationsVIEW AS SLIDESHOWPHOTO

Read More

Resource Guide to remodeling your kitchen

The kitchen is one of the main areas people look at when they are thinking of buying a house. A kitchen that is outdated or worn-out is usually a turn-off for potential buyers. Whether a homeowner

Read More

Before you Remodel your kitchen this will help it go better

So you’ve decided to have the kitchen remodeled, and you think your work is done. Not so fast. Even if you have talked with a kitchen contractor and a designer, there is still some work you

Read More

WHAT TO LOOK FOR WHEN YOU’RE BUYING A ROBOT VACUUM CLEANER

Technology is most helpful when it makes daily tasks easier and more efficient, and that’s most certainly the case with robot vacuum cleaners. It’s especially true if you’re in a

Read More