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5 Tips to Negotiating the Sale Price for Your Home

Today, we are looking at 5 tips on negotiating the best price for your home. Negotiating is one of those things that you either love or you hate it. With these tips, you will be on your way to the price you want to get for the sale of your house.

  1. Know The Market

    The first step to negotiating the sale price of your home is to know the market. Is it a buyer’s market or is it a seller’s market? One of the best ways to figure out the market is to look around at the homes that are similar to yours and have been sold in your area.

    When you have found a few homes that have sold, take a look at what they were sold for. This is going to give you a good idea of what you can get for your home.

     
  2. Hire an Experienced Real Estate Agent

    Back in April, Fox Business published an article about negotiating the sale price of your first home. One of the ways that the article stated for getting the best price possible is to hire a good real estate agent. Here is what the article had to say about it,

     
    "Once you find someone you trust, listen to the advice you get. Your agent will explain how to maximize home value -- and that's why you hired that person.”
     
  3. Staging, Staging, and Staging

    We’ve shared before about the benefits and importance of staging your home. What we mean by staging is doing simple, but effective things so that when a prospective buyer walks into your home, they can easily picture themselves living in it.

    Staging does not have to be expensive. Here are some cost effective staging tips,

     
    • Update lighting fixtures
    • Throw a fresh new coat of paint up
    • Take down personal photos
    • Clean up the yard
  4. Personalize It

    This is another great suggestion from the Fox Business article. The article reminds us that this is not a company merger, but rather the sale of something important from one family to another. Fox Business suggests two ideas to accomplish this:

     
    1. Send a personal note, maybe even a handwritten note to the counter offer that says something like, “this has been a wonderful home and here is why this home has treated us so well”.
    2. The second suggestion is an example. One seller found out the potentials buyers loved to play golf. The seller sweetened the deal by offering to pay the country club’s initial fee.
    The important thing to remember is selling your home isn’t about going to war. Instead, share with the potential buyer why this home has been so wonderful for you and how you hope it is the same for them.
     
  5. Stay Above the Drama

    The fourth point brings us perfectly into the fifth point. If the buyer presents you with a low offer, stay above the drama and don’t allow yourself to get angry. An emotional response is seldom productive.

    When a low offer comes in, take a deep breath and propose your counter offer. You don’t ever have to take that first offer, but you don’t want to ignore it either.

These 5 tips on negotiating the sale of your home should prove as comprehensive strategies to help you maximize the selling price. It is never easy to sell your home and is often nerve wracking. You do not have to do this on your own. Please call my office. We would love to help you move forward.