How To Negotiate Your House Price When Selling House

You may have marketed your property well, staged it

, held open houses, and promoted it to your best ability and yet, a sale will not take place unless you master the fine art of negotiating with your prospective buyers. Negotiation decides whether you achieve a good deal or the best deal. The ultimate goal of negotiation is to arrive at a consensus that is a desirable situation for both you and your buyer.

The first step necessary to master the art of negotiation is to do your homework first. You need to determine the value of your property and make sure that it is set to a little higher than the appropriate value. Then you should set a baseline for your negotiations. This baseline will decide how much of a compromise you are prepared to make during your negotiations. Be ready to really negotiate. Negotiation is a must-have skill for anyone who wishes to selling home privately, and so is compromise. Do not hesitate to compromise when the buyer makes a request that is well within the limits of your baseline.

Your baseline should make it clear to you as to which aspects of the sale are negotiable and which ones are not. All prospective buyers will try to make the deal cheaper or more favorable for them. Not all their offers will actually be favorable to you. If you make your non-negotiable aspects clear to your potential buyers at the very beginning of your talks, then you can avoid loss of precious time and effort that they may spend in making offers that are unacceptable to you. This clarity will make the process of negotiations smoother for both you and the buyer. When you are out to sell a house, you will have to cede some points in favor of the buyer. You can also put across offers or counter offers unhesitatingly. The counter offers you make should make your position clear to your buyer. They will understand what you are ready to give up on and what you would rather not. In this way, both you and your potential buyer need to make offers, adjustments and compromises till you have threshed your way through all the points that need to be sorted out for the sale of your house.

Skills in negotiation can be useful in more arenas than just when you are selling a house privately. Its applications are useful in all fields of life. To be an effective negotiator you will require careful preparation. It is definitely not childs play, not to be taken lightly, but it can be turned into an enjoyable exercise. You just need to be prepared for it, be clear with your negotiable aspects and prepared to make counter offers when faced with a non-negotiable offer. If you have these basic points clear, you are on your way to negotiating the sale of your house or property effectively.

When you are putting your property on the market for sale, do visit: www.sellingmyhouse.com.au for a host of tips that will make the journey a smoother, more memorable one.

by: Greg Robins

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