Don’t Get Used As A Punching Bag When You Sell Your House

Whenever the real estate market swings to the buyer’s side, there is always the question, “How far will they Punching baggo?” Will they just stick to whittling down the price? Or will they bludgeon it? Will they have a new concession they hadn’t thought of before, from beginning to end? Will they use the inspection as a punch list?

It really boils down to someone’s need for, and definition of “a good deal”. It runs the spectrum from people who just think getting the right home is the deal and price is secondary to people who grind whenever possible no matter how small the item.

What’s a seller to do in a market like that? Let’s break things down.

  1. If you don’t need to sell, you shouldn’t be in this market. It will only hurt your feelings. If you need to sell (for whatever reason) then bite the bullet, the price will  be less than you want.
  2. Have a pre-inspection so you know exactly what’s going on with your house. Surprises during an inspection will always give the buyer an advantage.
  3. Choose a fair price. It’s much easier to defend. Listen to your Realtor on this. Go with the price that the market indicates not what you have into it or what you paid. It’s not relevant. If you can show a buyer recent comparable sales that show your home in a positive light, you are in a stronger negotiating position.
  4. Maintain objectivity. When you get to the negotiating part, remember that if you’re there, that’s a good thing! You have a buyer. Keep your feelings in check – if you’ve got something bad to say about or to someone – don’t do it in writing or email, just as a general rule. It’ll come back to bite you.
  5. Don’t be attached to the results. Sometimes transactions just can’t be kept together. Adjust and move on.

This is not a market for the faint of heart, but just remember…people buy and sell real estate every day. Multiple times every day. Preparation is the key. If you need help, just ask.