09 May Negotiation skills: How to get the best price for your home
Crack negotiation skills can make the difference between leaving your home with enough money to buy another and install a new kitchen. However, few people feel confident about their negotiating skills, so here are our top tips to get you started.
Well-informed is well armed
Be confident in the price you’ve set – take a look at properties in the area with the same location/layout/configurations/upkeep as yours. The more confident you are in your price, the more the buyer will be, too.
Be a mine of information
If yours is a family home, do some research on the local schools intake, local youth clubs, scouts and brownies and so on. It may be a decade since your kids fled the nest but parents with younger children will be interested in exactly this sort of thing. The more information you can give them, the more questions they will ask, and the more interested they may become in your home.
Have three prices in mind
The price you start with – higher than you think you will get; the price you are happy to accept and the price that you won’t go below. This will not only help in the decision-making process, but your buyer will feel happier if they think they have negotiated you down.
Be a good listener
Listen to your buyer. Assess their situation. Does the buyer really love your home? They may be willing to pay more. Are they in a hurry to move? That’s another bargaining chip. But if your buyer hasn’t found a buyer for their house, you may need to play a longer game. Turn that around, if you are desperate to sell don’t let on – that could make your buyer try harder to drive the price down.
So you’re not a natural salesman?
Negotiation skills don’t come easily to most. The key is to stay relaxed, keep in mind the end result and try and separate emotion out of it. If their offer is way below your asking price, don’t get offended and dismiss them in a temper. Simply go back with a sensible offer.
Don’t feel confident?
While you’re at it, leave ego out as well.
Just because you’ve set a price you don’t have to fight to the death to get it. If it still fits your budget, and the buyer agrees to move quickly (or slowly) to suit you, then don’t turn it down for the sake of a few hundred quid.
Negotiation is all about reaching an agreement. Negotiating the best price for your home doesn’t just mean that YOU walk away happy, it means that everybody walks away happy!
Having said all of this, negotiating is not for the fainthearted – so, if you haven’t got a lot of time and hair on your teeth, why not make the most of our negotiation skills, honed after years of practice. Call us on 01494 873663 if you’re thinking of buying a house in Chalfont St Peter, Chalfont St Giles, Gerrards Cross, Rickmansworth and Beaconsfield. We’d be happy to help.