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Teamwork in negotiating a home sale

December 28, 2011


When negotiating a home sale, it will likely help to become familiar with 
negotiating techniques in order to avoid losing money by overpaying or caving in to a prospective buyer's position unnecessarily.

While a real estate agent's advice on pricing and dealing with the other party can be extremely valuable, understanding the process may help home buyers and sellers to comprehend why a certain course of action is appropriate in one situation but not another. Without that knowledge, expert advice may not make as much sense.

Negotiating teamwork

One common approach that may be employed by professionals and amateurs alike is to have two people on their side of the negotiation, with one pushing hard and the other being more accommodating. One real estate professional noted this is essentially the "good cop, bad cop" routine that most people are at least aware of, but it can still be effective even on those who know about it.

In real estate, according to the expert, husbands and wives commonly use this approach, in some cases without planning to. In either case, the effect of having one member of a household pushing for concessions, such as a higher or lower price point or closing schedule, can be enhanced by this method. Among other benefits, it allows those buying or selling a home to try two approaches and determine which will work best.

Risks of home negotiation tactics

With any negotiating tactic, there is no guarantee it will work as intended. Home buyers and sellers who intend to try use such an approach should be careful not to get too involved, since doing so may distract them from the important part: the terms of the agreement.

It is important to remember that the objective is to reach a deal both sides will sign off on, rather than to beat the other party. Maintaining perspective improves the odds of achieving a favorable agreement. Too much maneuvering can sour a deal by making it too complicated or one-sided for the other party to tolerate, so a careful balance should be kept.
 

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Since 1906, the Coldwell Banker® organization has been a premier provider of full-service residential and commercial real estate. Coldwell Banker is the oldest national real estate brand in the United States and today has a network of approximately 83,000 sales agents working in approximately 3,100 offices in 50 countries and territories. The Coldwell Banker brand is known for creating innovative consumer services as recently seen by being the first national real estate brand to create an iPad application and the first to fully harness the power of video in real estate listings, news and information through its Coldwell Banker On LocationSM YouTube channel. The Coldwell Banker system is a leader in specialty markets such as resort, new homes and luxury properties through its Coldwell Banker Previews International® marketing program. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated.
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