Tips to Make the Negotiation Process Work in Your Favor
MILWAUKEE, WI – Successfully negotiating a home purchase is crucial for achieving long-term satisfaction withresults. With plenty of housing opportunities available in the current market, buyers are looking to get the most for their money while sellers want to secure the best price for their home. This means individuals on both sides must be prepared to handle demands and make compromises.
“It is imperative to take control of your end of the negotiations,” said Judy Hearst, regional president of Coldwell Banker Residential Brokerage. “That’s why it’s important to use the expertise of a real estate agent who can navigate a deal on your behalf and help you walk away feeling satisfied with the outcome.”
Whatever side of the table you sit on, lean on your Realtor to understand how negotiations work:
- · Fair is fair. Whether you are a seller pricing your home or a buyer making an offer, it is important to review research of recent home sales for comparable homes with your Realtor. This is important because making an offer that is significantly lower than the asking price can alienate you as a serious buyer. Meanwhile, sellers need to be careful not to overprice their home, so it does not turn off potential buyers.
- · Let your Realtor do the talking. Realtors are trained in negotiating real estate transactions and know the legal demands required, so they will ensure your best interests are satisfied.
- · Put it aside. If you reach an impasse with a sticking point, finish the main agreement and then consider resolving the other issues in a separate agreement or amendment. This way, both sides can recognize and solidify basic areas of agreement, then move on towards a fair compromise on other terms and conditions.
Coldwell Banker Residential Brokerage, a leading residential real estate brokerage company serving Chicagoland, Northwest Indiana, Southeast Wisconsin and Southwest Michigan, operates 53 offices with more than 3,300 sales associates. Coldwell Banker Residential Brokerage is part of NRT LLC, the nation’s largest residential real estate brokerage company. NRT, a subsidiary of Realogy Corporation, operates Realogy’s company-owned real estate brokerage offices. For more information, please visit www.coldwellbankeronline.com.