Now that we’ve reached the third installment of our series on negotiation tips for sellers, we’ll be covering the advanced tactics you need to know to successfully list and sell your home. We’ve already covered beginner and intermediate tips (which you can find here and here), and before we get into today’s tips, which will mostly apply to the final stages of the deal, please realize that they aren’t ones you’ll want to rely on all the time.
Ideally, the negotiations in your real estate deal shouldn’t be contentious. Even so, it sometimes isn’t feasible to keep the other party’s feelings in mind when you’re trying to earn the best possible deal. With that in mind, let’s cover our advanced negotiation tips:
1. Raise the price after going under contract. This certainly won’t make you any friends, but it will help you earn a high price.
"Never apologize for seeking the best possible deal."
2. Go deep on contingencies. Doing away with inspection, financing, and even appraisal contingencies is an aggressive, yet powerful, way to strengthen your position in a real estate deal. Money may seem like the most important thing, but if you go deep on contingencies in order to make sure you get the buyer’s deposit, then all the cards are in your hand.
3. Remember that today is different than yesterday. Things change. The majority of advanced negotiation tactics people use are actually based around renegotiation. Don’t be afraid to make changes to what you’re asking based on new developments in the market or economy, and never apologize for seeking the best possible deal.
At the end of the day, all of these tips are most effective if you also have a strong agent by your side. As your broker, I would be happy to act as the “tip of the spear” on your deal.