Sellers-- How Well Do You Negotiate?
Negotiating skills from a seller's perspective:
Traditionally people think of a good negotiator as a person that crushes the competition and gets the last dollar out of the transaction for their clients. However, negotiating skills and tactics need to be adjusted according to the client's long-term objectives and according to market dynamics.
For example, in a buyers market where there are lots of listings around and all the listings are competing for very few buyers the objective of a good negotiator should be to get that first market price offer under contract and soon as possible because you know that prices are declining and the likelihood is that the next offer is going to come at a lower price.
However, in a sellers market where sellers have a rare commodity and there are a lot of buyers competing for it the objective should be to entice as high a price as you can through competitive bidding. Therefore you have the luxury to wait a little bit, prices are rising and as long as you fulfill the long term objectives of selling the home within a certain time frame that should be the negotiating tactic.
A good real estate agent and experienced realtor can adjust their negotiating tactics according to market dynamics and according to the long-term objectives of the client. For more information or to have The Alan Donald Real Estate Team sell your home please give us a call, (843) 900-0155.