Real estate tips to simplify selling your house.
Some of us love the thrill of negotiating but for others, it can be difficult to sort through all of the options and know where to go from there. Here are some real estate negotiation tips for you.
#1: Know what you want
Do you have a bottom dollar you need to reach? How about a specific closing date? Knowing what exactly you need from the deal is vital to get it. When you start out on selling your property you want to make sure the big picture is in mind and extremely clear. Your real estate agent should be able to help you clarify what your priorities are.
#2: Know what it’s worth on the open market
A current market analysis that is area-specific will show the average days on the market, price per sq ft, and the trend of the neighborhood. Creating healthy competition is an important part of getting the best possible price. Leveraging custom statistics scarcity is a great negotiation tool.
Imagine your selling your house and there are 5 other houses exactly like yours for sale. It may be wise to wait until the majority of them are pending. Knowing when the best time to sell a house and for how much will give you the best odds to get what you need out of the sale. This comes down to good ol’ supply and demand.
#3: Work from a Win/Win perspective
Buying and selling real estate can sometimes feel like going into battle and the problem with that in battles there can only be one winner. In any real estate transaction, both the buyer and seller need to mutually agree before it can close. Typically the seller and buyer both end up winning, but it’s winning in different areas. The buyer wins the house, and the seller wins the equity. Another way for everyone to win is to make sure there is a home warranty included with the property. That way if something like the electrical panel or one of the appliances breaks the first week of homeownership, the buyer isn’t calling us, they’re calling the warranty company to remedy the issue. Aiming for a win-win is the best perspective to have in any Real Estate negotiation. Real estate negotiations are about getting what you want and/or need.
These are some common real estate negotiation tips when selling real estate but there are others like understanding common real estate terms and how time works in real estate can be a big help. If you need more tools to sell Pierce County property I’d suggest getting our free sellers checklist. If your goal is to get the highest return on your real estate investment then find out what actually matters to buyers.
All The Best!