Welcome to the first episode of my three-part series on negotiating tips for sellers.
I’ve helped negotiate thousands of transactions, and over the last two years, I’ve maintained a track record of earning sellers 100% of their asking price.
If you’re interested in achieving this kind of success for your own deal, simply follow the tips in this series. For this installment, we’ll be covering three beginner-level tips:
1. Create scarcity. Treat your property like the only diamond available in a market full of coal. Make sure buyers know that your home is a fleeting opportunity and that if they don’t make a move, someone else will.
"Sellers should pause after they receive an offer so that the buyer becomes more invested in the deal."
2. Price compellingly. Home price is not an exact barometer of value. Price is a marketing tool. You can get people to bid over asking price. In fact, between 15% to 25% of properties sell above asking price in New York City during any given month. We don’t live in a bazaar-style economy—many people would prefer to pay above asking price over haggling. You don’t necessarily need to underprice your home to achieve these results, but you do need to price it well.
3. Pause every time you receive an offer. There’s a French child-rearing method called “The Pause,” and this method can also be applied in real estate. Per this method, parents are encouraged not to rush to their child’s side when they hear them begin to cry. Instead, they take their time. This isn’t to say that the child should be completely ignored, just that parents should wait a moment before responding. When applied to real estate, the sellers must do the same. Sellers should pause after they receive an offer so that the buyer becomes more invested in the deal.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.