Negotiating The Price
While we’re passionate about helping our buyers find the perfect property, we place just as much importance on helping them find a property at the best possible price and great buying terms.
The ideal contract combines a budget-friendly price with additional seller concessions and incentives to create a deal that simply can’t be passed up. As a company, we conduct a lot of research into real estate market data which we can then apply to our work. This data includes local selling prices based on the area and current list prices to determine average housing costs and the competitiveness of the market. This comparative market analysis allows us a deeper insight into what’s happening in real estate, giving us confidence we are making the right decisions when it comes to your property. It also includes an in depth comparison between the house you are intending to buy or sell and similar ones that have recently been sold in the surrounding area. While this does not usually lead to a definitive price right off the bat, it gives us a reasonable starting point for negotiating an ideal selling price. We can then adjust our valuation accordingly, based on how the property is likely to sell. After gaining knowledge of your own personal situation through research and honest communication, we will be able to advise on the best course of action. We will consider what it is that you, as the seller, want to get out of the deal. What are your motivations? Are you selling for personal reasons or purely for profit? These details may seem small, but they can make a big difference when it comes down to setting up the sale for success. However, it’s not always about the money. When negotiating a real estate deal, money may not even be a factor. If you don’t have the financial ability to compromise on price, negotiations may take place in other areas, such as providing additional concessions. These are often what pushes the buyer from ‘maybe’ to ‘let’s make an offer’. We can help you to determine what you could offer that makes your property appeal to buyers. Even then, it’s not over. Negotiations in real estate can often include several rounds of offer / counter offer, with a great deal of back and forth discussion. We’ll be right there, through every offer rejection or acceptance, helping you work on your strategy and come up with the best counter offers for any scenario. While finances and negotiation are obviously of great importance when arranging such a large transaction, it’s also important to take affordability of maintaining the home into account. All too often we see buyers excited to have scored a property at a great price, only to be devastated to find repairs are necessary and they cannot afford to cover the project. In such an event, that’s where another negotiation would come in. Which brings us on to our next point: inspection.