Usually, sellers receive the services of a seller agent when they want to sell their house. But, if you want to sell your home by yourself, you have to remember some negotiation tips to perform the deal easily and profitably. This article specifies some ways to let you know about the communication skills with your buyers. Negotiations while selling your home have a direct impact on the closing of the deal. If you are the best communicator, you can sell your home fast and at a profit without the help of any seller agent.
Selling a home by yourself adds to your experience and saves about 3% of your profit, which you will pay to the agent. Another advantage of selling your home by yourself is that you don’t need any real estate agent license for property selling.
However, there are 90% of homeowners sell their property through a real estate agent. The FSBO (for sale by owner) transaction is a bit difficult, but the most important factor in the FSBO transaction is negotiation with the buyers.
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Here are some negotiations tips for you to follow.
Don’t lower your listing price directly.
After receiving the first offer from any buyer who has offered a lower price than the price you have fixed for your home, consider the price thoroughly. The buyer would certainly know that he is offering less and expect you to lower your price. So, instead of lowering your listing price in fear of losing the customer, stick to your actual listing price. The buyer will come to you again with a higher price and would think that your home is worthy of the price you have listed.
Reject the offer
When buyers offer you less than the price you have set, directly reject their offer—requesting them to make their offer higher will make them look down on your property. So, instead of asking them to increase the bid, you should utterly declare that you are not selling your home at all. By this means, they would think that you are very serious about your property.
Give some extra time to your buyer.
Sometimes, when you want to sell your home and receive an offer from any buyer, he asks you to give him some time to consider the price tag and do market research. Meanwhile, if you encounter another buyer offering you more than the previous buyer, you should not deal with the latter buyer. However, it is legal but unethical. You should wait for the buyer you first countered and inform him about the new offer; if he does not agree to pay you the same, you can sell your home to another buyer. By practicing ethical behavior in the real estate sector, you can develop your society and the real estate market.
Price your house according to the market trends
The most important factor in negotiations while selling your home is to price it according to the market’s current trends. Fixing too much price for your home makes disperse the buyers from your property. For example, if the price of a five-marla house in Blue World City is Rs4,000,000 and you are asking for your house Rs7,400,000 having the same features. So, then no one ever turns an eye to your property. Before listing your property, do the market research and analyze whether your property values the much price you are fixing.
Conclusion
While dealing in real estate, you have to make yourself aware of many real estate terminologies, trends, deals negotiations, and property valuations. Sigma Properties offer you the best real estate services and assist you in promoting your property business.
Author Bio
Muhammad Junaid is a senior Analyst and Search Engine Expert. Extensive experience being a lead writer in Sigma Properties |Taj Residencia. Work for years with local and international enterprises. Also, represent well-known brands in the UAE.
