Like every major business deal, selling a house is a significant financial transaction that requires substantial effort, rhetoric, sources, and negotiation. 842,000 people sold their homes in the United States in 2020. It’s become critical for homebuyers to set the right price for their homes when selling because it determines how much money they’ll be walking away with after making commission payments and other remunerations.
There are multiple strategies to employ when trying to sell a home at a price you agree on. Use the following negotiation strategies to get the best offer for your home for sale.
Counteroffer Your Listed Purchase Price
Sellers usually make counteroffers when they receive an offer that’s below their list price. It’s a viable strategy to prevent one from losing a potential buyer, especially when their offer is close to the asking price. Counteroffers are often beneficial in getting a property sold on flexible terms and conditions between the buyer and seller.
However, an excellent way to sell your house at the right price is to counter by sticking to your listed price instead of reducing the asking cross. A potential buyer who’s adamant about purchasing your property is likely to return with a higher offer after your counteroffer.
Countering at your list price is also a way of showing that you’ve priced the house daily, and you deserve to walk away with the desired money for your house.
Let Buyers Bid on Your Property
Sometimes it’s better to sit back and wait to get multiple offers before you choose a potential homebuyer to work with. Open houses are excellent to auction your property, increasing your chances of receiving offers for higher prices.
Allow your real estate agent to show your home to the maximum number of potential buyers after listing the home on the market. It’ll increase competition among buyers, making them place higher offers on the property.
In the end, you can reach out to the top bidders and negotiate the highest price with them before signing the final deal.
Send a Deadline with Your Counteroffer
Many buyers tend to resort to other sellers while putting another seller on hold, resulting in wasted time and resources. You can prevent this from happening by putting an expiration date on your counteroffer. It’s an excellent strategy, especially when you’re trying to sell your house quickly.
When a buyer receives a deadline, they’re compelled to make a prompt decision as to whether they should further discuss the price or move on. It’s best to offer a deadline that’s slightly shorter than the default timeframe allocated by your real estate agency.
For example, if your standard counteroffer expires in three days, you can shorten it to two days to streamline the process.
You can now reach out to our real estate agents at Flat Rate Realty to sell homes at the listed purchase prices. We’re a team of dedicated realtors, helping you make quick and profitable home sales in Colorado within the desired period. Contact us to learn more today!