Whether you like to or not, buying and selling a home involves negotiation at all stages of the process. It is not like the retail world where once you decide to purchase, you pay the price. It is easily the most expensive purchase or sale that most people experience and emotions get involved that could affect the negotiations adversely. The National Association of Realtors research group has discovered that homeowners that negotiation on their own, leave 19 to 38% of revenue on the table. These are the national numbers aggregated across all price ranges.
The word “home” by itself conjures up emotions and selling a home you’ve lived in for a while could even complicate things more. A real estate professional can separate their emotions from the process to be able to help the one they are representing.
The price of the home, the type of financing and concessions, closing costs, personal property, closing dates and possession are just a few of the many things that can be negotiated in a contract. Since the seller wants to get the most for their house and the buyer wants to pay the least, their objectives are diametrically opposed.
Even after the contract is signed, removing the contingencies can cause considerable negotiations. The appraisal, the inspections or the repairs could be a source of reevaluating the terms and provisions of the contract.
Negotiating the sale or purchase of a home is a competition; for one person to get something, someone has to give something up. If you don’t feel comfortable with this, it is important to work with an agent who can bring their skills to the table on your behalf. As your advocate, they can champion your position.
I’d like to share how my skills, training and experience can benefit you in a sale or purchase. Call me at (703) 707-0334.