What is that one thing which plays the most crucial role while selling a property? If I am not wrong, then negotiation might be the answer that most of you will agree upon. Experts say that in a property transaction, the biggest mistakes happen during negotiation on the prices. Negotiation doesn’t mean that you want to close the deal at its earliest. In fact, the actual motto behind negotiation is to sell a property at its best price. Yes, we know that you cannot learn the art of negotiation overnight, but this post can at least help you in selling your property at a well-deserving price.
Be Aware of Market Dynamics
It is important for a seller to stay updated with the market dynamics, prevalent market trends and current capital values, if he really wants to sell his property at a good price. Never ever tell any deadline to the buyer. Even if you are under debt or moving to some other place, don’t let your buyer to know about all this or else the buyer can use these loopholes against you. Showing so much of desperation for closing the deal can let the buyer in keeping the ball in his court.
Focus on USPs of Your Home
Try to diver the mind of the buyer from price to the values, uniqueness and other USPs of the property. Draw his focus on the amenities that the buyer will get after purchasing your house. You can also compare your property with other properties in the area of the same market value. If nothing works, then try to make the buyer envision that how his life will change after he shifts into your home. Expert says that the negotiation becomes easier once the buyer gets emotionally connected with the property.
Don’t Reject All Offers
It is advisable to the sellers that you should not reject all the offers in one go, even when they don’t appeal you. It not only shows your rude behaviour and arrogance but also, there is a chance that you may lose a genuine buyer with this attitude. If you are uncertain for the early offers, simply tell the buyer that you need some more time to consider his offer. There is nothing to feel ashamed about this as market runs this way. However, having several bidders for your property will let you reap the maximum value from your property.
Avoid Huge Price Cuts
It is one of those “No-No” things that the sellers should keep in their mind while looking for a prospective buyer. Most of the time, it is a case either with the inexperienced sellers or desperate ones. Sometimes, a lack of buyers in the market hugely hit the morale and confidence of the seller. Thus, they end up in selling their property at a cost next to nothing. Patience is the key to success in any negotiation process. When you have waited for so long, it is advisable to wait for a few more days if possible. Who knows you may get more than what you have expected.
Yes, you heard it right. Silence is underestimated by many, but it is one of the most incredibly powerful parts of any negotiation. A right amount of silence not only exhibits that you are respectful to the buyer but also shows that you are not that desperate to sell your property. Always stay silence when the buyer is throwing absurd terms and offers on your way. It is a gesture for him that his offers are unjust and unreasonable. However, giving a silent treatment to a respectful and fair buyer is a sign of discourteous seller. If you know the right amount of silence, then it can surely turn the table in your favour.
Use these above-stated advises and we are sure that you will create wonders for yourself. In case you still find that handling negotiation is not your cup of tea, then don’t hesitate to get a broker on board, who can negotiate on your behalf.
If everything works well, we are sure that your negotiation will reach on this…