If you are selling through an estate agent, you won’t have to worry too much about managing your own negotiations.
If you are handling the sale yourself, read on to discover some of the tricks of the trade – used by salesmen all over the world to close deals:
Don’t be pushed around or rushed . Always act like you have several offers on the table and don’t be afraid to ask for some time to consider an offer – even if it is what you want.
Always know what your bottom line is – what is the lowest price you can sell for? Aim to reach a deal somewhere between this price and your original asking price.
That way, you’ll get what you want and your buyer will feel that they have got a good deal, too.
Invent a partner whose agreement you always need . That way you can maintain a friendly, agreeable face with your potential buyers even when you decline their offer – citing your “difficult” partner’s lack of agreement as the reason.
Keep a few ‘sweeteners’ in mind in case you need something small to clinch the deal. Offering to include kitchen appliances or garden furniture can swing the deal – don’t let on if you were going to leave them behind anyway!
Finally – always stay polite and friendly . Even when things don’t go to plan, don’t slam the door in people’s faces. It’s surprising how often they may end up coming back to you with an improved offer.
Related article Estate Agents tricks of the trade
How to Judge Offers
If you are lucky enough to get several offers, it’s important to compare their overall quality – not just look at which one is highest.
For example, a cash buyer who isn’t in a chain is likely to complete much more reliably and quickly than a mortgaged buyer who is stuck in a chain selling their own property.
Don’t underestimate the value of a quick, simple sale in comparison to one which may never happen.