Negotiating a real estate contract is a bit of an art. Ask for too much, and you may send a buyer running. Ask for too little, and you may cut your bottom line short.
Unfortunately, with the stakes being so high in Knoxville real estate transactions for both buyers and seller, emotions can run high during the process of negotiations.
If you’re not careful, and let the emotions get the best of you, you can kill the sale of your Knoxville home before it’s even sold. Here are 3 negotiation tactics that can kill the sale of your Knoxville home.
Negotiation Tactic #1 – Outright Rejecting An Offer Before You Realize Its Potential
When you’re selling your Knoxville home, you may get some offers that are all together offensive and appalling their so low. Still, as a seller, you shouldn’t shoot down an offer before trying to work with it.
Realtors will tell you that low ball offers can sometimes be worked into a respectable contract for all parties. Instead of refusing the offer altogether, see if you’re able to work with it. You have the option to keep countering back until you find something that works for you. If you don’t get to that point, then you don’t have to accept the offer.
Negotiation Tactic #2 – Expecting The Perfect Offer
If you think you’re going to get asking price on your home and not have to give a little bit, you may want to give yourself a reality check.
Selling your Knoxville home is all about give and take. You may give a little on price, but get a quicker close date. You may give a little on price, but not have to play closing costs. It’s all about making the best situation for all parties, not just you as the seller.
When you list your home, be sure to talk with your realtor about potential outcomes, so you can factor it in your bottom line. A realtor can let you know what most buyer may ask for and what to expect if you end up paying closing costs.
Negotiation Tactic #3 – Nickel & Diming The Buyer
As a seller, it is understandable that you’re worried about your bottom line, every seller is. But, it’s a fine line when it comes to negotiating with your buyer.
Countering back over a few hundred dollars, or refusing to handle small repairs will kill your real estate deal. Buyers will not want to work with someone who they could see as unreasonable.
Don’t forget the give and the take of real estate here. You’re not going to get everything you want, so be prepared to work with the buyer a little bit.
In the end, selling your Knoxville home isn’t always fun, but an accepted offer that gives you most of what you want will allow you to move on with your life, whether you’re buying a new home or relocating to a new area. You will only make the process easier if you work with the buyer and keep a positive attitude. The real estate deals that typically fall apart are those where both parties are unwilling to work with one another.
Are you thinking about selling your Knoxville home this year? If so, do not hesitate to give us a call. Rick can be reached at 865-696-9002 or via email at [email protected]. Kati can be reached at 865-696-1888 or via email at [email protected].
|cookielawinfo-checkbox-analytics||11 months||This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".|
|cookielawinfo-checkbox-functional||11 months||The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".|
|cookielawinfo-checkbox-necessary||11 months||This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".|
|cookielawinfo-checkbox-others||11 months||This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.|
|cookielawinfo-checkbox-performance||11 months||This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".|