When you’re selling your home, or when you’re buying a home, you know that negotiation is part of the deal. However, there’s no “magic method” to negotiation – both parties want to walk away feeling as if the transaction ended in their favor.
It’s completely natural to want to negotiate the best deal, so most people rely on their Realtor® to help them through the often-tricky process.
Is There an Art to Negotiation During Real Estate Transactions?
You’ve probably heard it before: there is an art to negotiation. Realtors are trained to negotiate with buyers and sellers to get the best possible deal – but remember, negotiation is a give-and-take process.
The decision of whether to accept an offer is entirely up to you. Your Realtor will give you the guidance you need to make the right choice, and in most cases, he or she will negotiate with the other party on your behalf.
Your Realtor will consider:
- The state of the current market. Sometimes it’s a “buyer’s” market, and sometimes it’s a “seller’s” market. That can have a big impact on your negotiations – but again, every home is unique, and every market has its own nuances.
- Which party has the most leverage. In some cases, the seller has more leverage than the buyer. For example, a home with six offers on it lets the seller pick and choose who’s offering the most money and needs the fewest concessions. On the other hand, the buyer may have more leverage – such as when the seller needs to move quickly and doesn’t have the luxury of time on his or her side.
- A prequalified or preapproved buyer is more likely to make a successful offer on a home than one who hasn’t spoken with a lender yet.
Are You Selling or Buying in Tampa Bay?
Call us at 727-584-8400 or 813-961-6000. You can also get in touch with us online if it’s easier. We’ll be happy to help you make the most out of your real estate transaction.