In today’s turbulent real estate market, many buyers and sellers seem to have become confused about negotiating tactics.
Many buyers assume that every property is overpriced and that low-ball bids are de rigueur. Sellers often recoil at these “insulting” offers, which typically leave no room for negotiation.
The result: a potential deal collapses and both parties lose.
It’s no secret that the real estate market is correcting, but we believe buyers make a serious mistake when they automatically assume that every list price is inflated and additionally, sellers who fail to entertain fair offers miss lucrative opportunities.
The best advice Marquette Turner can give both buyers and sellers is to put their real estate agents to work. Using comparables of properties recently sold is the best position to negotiate from, and certainly the fairest. Selling prices for comparable properties is a far better litmus test for the worth of a home than blind emotions or unfounded assumptions about the state of the market.
Important to remember is that a sale price is a fact, whereas a listed price is far more hazy.
Capitalize on your agent’s expertise. Use facts and not emotions to guide your buying and selling decisions.
Today’s real estate market holds significant opportunity for buyers – opportunities not likely to be seen for a while. The most successful buyers and sellers will be the ones who make their agents do their homework, do homework themselves, and negotiate from a knowledgeable position.