After finally saving up enough money to use as a down payment, I decided that it was time to hit the market. I met with a lender, got pre-approved for a loan, and then started visiting different properties. However, I quickly realized that I didn't know as much about real estate as I would have hoped. I wanted to find a great neighborhood and know what to ask the professionals, but I could tell that I needed a little help. To point me in the right direction, I started working with a great real estate agent who was familiar with the area. This blog is all about educating the general public on real estate matters.
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People who are potentially interested in buying your home but who wish to get it for significantly less than its listing price will often use a variety of tactics in an effort to get you to sell. Provided that you've worked with a real estate agent, such as one from a place like Mark Fox Company, to carefully set the price of your home and the agent is confident that the home will sell for around this mark, don't allow yourself to be pressured or bullied by the tactics of prospective buyers. Many buyers will use specific strategies to make you sell even if you don't want to; try to stay firm on your price and wait for the right buyer to come along. Here are some tactics that you shouldn't fall for.
Hearing That It's The Buyer's Final Offer
When a buyer submits an offer and you submit a counteroffer, the buyer will often come back with a counter to your counter. Sometimes, buyers and their agents will inform you that this is the buyer's final offer; in other words, if you don't accept the offer, you will lose the possibility of a sale. While this sentiment might certainly be true, it's also commonly used as a tactic to encourage the seller to sell. You don't need to panic upon being told that it's the buyer's final offer. Make sure that you don't sell for less than you want for your home.
Hearing That A Buyer Is In Town For A Short Time
Some buyers will attempt to make the seller sell his or her home for less than the asking price by saying that they're in town for a short time and need to get a deal done. This can prompt you to think that you'll lose a potential deal if you don't agree to the buyer's price offer right away — but it can result in you selling the home for less than you want. A buyer doesn't need to be in town to make an offer or complete the deal, so don't feel pressured by this statement.
Hearing That A Buyer Is Looking At Another Home
During the negotiation process, some buyers will suggest that they're highly keen on another home and that it's "down to your home and that home." This statement is often used as a tactic to make you lower your asking price. While there may indeed be another home that the buyer is considering, you should avoid getting pressured by this statement. If the buyer doesn't buy your home, another buyer will come along.
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