
How to negotiate prices successfully
The necessary basis for negotiation
Before you can negotiate, you first need to know what you are negotiating about. A professional real estate agent will determine the value of your property, taking all factors into account. This means you are on the safe side when you put your property on the market. And you have not set an arbitrary value that may not stand up to the first argument in price negotiations. Instead, you have a solid basis for negotiating your desired price.
However, you should not go to market with the determined value straight away. First, you need to work out the right pricing strategy. Many private sellers often set a higher selling price because they assume that this will give them more room for negotiation. However, this strategy does not usually work. The opposite usually happens and potential buyers are put off by the high price. Given the current high demand, a more promising strategy may be to offer the property at a price below its value. This can encourage various potential buyers to make offers.
A third strategy would be to offer the property at a price that is just above the appraised value. Potential buyers usually find this fair. This has the advantage that the marketing time is usually short. In addition, both sides are often satisfied with the price. It is best to seek advice from an expert on the best strategy. They will tell you which one is right for your property.
Negotiation tactics
The most important prerequisite for price negotiations is a confident manner. Since you know what your property is worth, this should not be a problem. With a professional valuation, you don't need to worry about interested parties trying to push the price down by pointing out defects. You can respond by saying that these have already been factored into the price. Thorough preparation for price negotiations is also important. If you know the buyer's possible arguments, you can prepare appropriate counterarguments. However, the disadvantage here is that most private sellers hardly have the time to prepare so meticulously.
Those who do not have much experience in negotiation and are not very familiar with the real estate market will find such negotiations particularly difficult. Buyers can often be quite stubborn—after all, a lot of money is at stake. The only way to avoid feeling insecure is to have the necessary experience. Every professional real estate agent has this experience. They know pretty much all the tricks and know how to deal with prospective buyers. Their extensive market knowledge makes it easy for them to counter the arguments of interested parties.
Are you still unsure about the best negotiation strategy for your property? Contact us with no obligation! We will be happy to advise you.
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