Negotiating ROOM? Or Negotiating STRENGTH?

By
Real Estate Broker/Owner with The Master's Key Realty LLC -Windsor, CT - HARTFORD COUNTY REB.755648
http://actvra.in/jf4

So Mr. & Mrs. Seller, you want to price your house so you have "room" to negotiate with a buyer? The problem is, the amount of room you want as a buffer may make the buyer think you're just not serious enough to even bother to enter into negotiations with you. 

Because of this, you may lose even more, as your listing stays longer on the market, and maybe gets "stale" and then you have to reduce the price anyway.  The problem is, of course, that the buyer will STILL want to negotiate, especially after you've been on the market for a while.

If you have more than two or three percent negotiating room between your asking price and the actual value of your home, trust me, the buyer knows it. With the amount of listing inventory out there right now, they've probably looked at a lot more homes in your price range than you have!   

                   houses for sale

The alternative is to negotiate from a position of strength!  If your house is priced exactly where it should be, the buyers will know that too.  If your house is the house they love, and IF you are priced where you should be, you can take a strong stand in your negotiations. And if they love it, and know the value is there, they'll pay it.Man with barbell

So let's consider your pricing again.

Do you want to have negotiating room, or negotiating STRENGTH?

When you're ready to sell your home in Windsor or Bloomfield CT, or elsewhere in Hartford County, give me a call at The Master's Key Realty.  I can help you get your home priced JUST RIGHT so you can negotiate from a position of Strength...and that will help you attain your highest possible price in any market conditions!

Posted by

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Serving the North Central Connecticut region, Hartford County, and the communities of Windsor, Bloomfield, Hartford, East Hartford, South Windsor, Manchester, Windsor Locks, Suffield, Enfield, East Windsor, Somers and the Granbys...

Opening Doors to Home Ownership . . . The Master's Key . . .

Residential Sales, Short Sales and Foreclosure Prevention, Multi-Family and Investment Properties, Condominium and Property Management

Lisa Orme on LINKED INRealtor logoThe Master's Key Realty fan page           LISA ORME        Lisa Orme on TWITTEREqual HousingRSS

 

Licensed in the State of Connecticut, ABR, CRS, GRI, PSCS, SFR, Notary Public, Lic. #REB.755648

 Broker/Owner of The Master's Key Realty LLC, 340 Broad Street, #320, Windsor, Connecticut 06095

To contact Lisa, call 860-688-1400 or send an e-mail to lisa@masterskeyrealty.com

Copyright, Lisa Orme, 2010.  All rights reserved.

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Joni Staples 10/29/2011 12:51 AM
Topic:
Home Selling
Location:
Connecticut Hartford County
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Rainmaker
474,107
Chandler Real Estate Liz Harris, MBA
Liz Harris Realty - Chandler, AZ
#ChandlerRealEstateAgent

I think that the best thing about getting into real estate is that through experience, the realtor knows ... pricing it right during the first week of marketing is KEY, KEY, KEY!

Sep 08, 2011 11:26 PM #1
Rainer
107,613
Ted J. Macy
Top Agents Atlanta Metro - Milton, GA

It is really hard to tell people what their house is worth today and for them to accept it, you are right, it takes strength

Sep 08, 2011 11:31 PM #2
Rainmaker
358,562
Scott Hayes
(512) 786-8300 - Austin, TX
Realty Austin, Broker Associate

Glad I got to suggest this one Liaa. We have so many sellers that think this way, but the real service we provide, is suggesting that sellers price it right the first time

Sep 08, 2011 11:52 PM #3
Rainer
172,189
Lisa Orme
The Master's Key Realty LLC -Windsor, CT - HARTFORD COUNTY - Windsor, CT
Broker/Realtor, ABR, CRS,GRI, PSCS, SFR, Notary Pu

Liz - exactly right--that first week is when some of the MOST qualified buyers will see the home--they already understand the market because they've seen other homes, and now they're looking at the new listings AS they come on the market. If it's not priced right, we can lose them right there...

Ted - In this market, it's important for the seller to be motivated to sell, and to work WITH their agent at pricing right to sell. If they can't accept reasonable market pricing, that usually tells me something about their motivation. Once they understand the market, they should be ready to price it right!

Scott - Thanks for the suggest! I agree--it is our ability to properly position the home in the marketplace which helps the buyer get the highest possible price.  That is what we are really getting paid for, and that expertise takes experience to develop.

Sep 09, 2011 01:15 PM #4
Rainmaker
895,509
Brian Madigan
RE/MAX West Realty Inc., Brokerage (Toronto) - Toronto, ON
LL.B., Broker

Lisa,

This is a very good post and it sets out the issue with clarity.

Brian

Sep 09, 2011 10:55 PM #5
Rainer
230,050
Karen Bernetti
Staging4Smooth Transitions Connecticut Home Staging - Southington, CT

Wow - you really get straight to the point with this post Lisa. Well said....

"the alternative is to negotiate from a position of strength!  If your house is priced exactly where it should be, the buyers will know that too."

I'm sorry I haven't checkin in for a while.....I do hope all is well with you! 

Sep 17, 2011 11:38 PM #6
Ambassador
1,118,532
Joni Staples
Berkshire Hathaway Home Services - Anderson Properties - Huntsville, TX
Your Huntsville / Lake Livingston Area REALTORĀ®

This post is receiving a standing ovation in Riverside, Texas. EXCELLENT!

 

Oct 04, 2011 05:39 PM #7
Rainer
172,189
Lisa Orme
The Master's Key Realty LLC -Windsor, CT - HARTFORD COUNTY - Windsor, CT
Broker/Realtor, ABR, CRS,GRI, PSCS, SFR, Notary Pu

Thanks Joni!  In any market conditions, the right List price right at the beginning of the listing will always get you the BEST possible Sales price...

Oct 05, 2011 12:32 PM #8
Rainmaker
876,033
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Lisa

I totally agree that it is better to negotiate from strength.  If you do you win.

Oct 29, 2011 01:51 AM #9
Rainmaker
524,788
Dr. Stacey-Ann Baugh
Century 21 New Millennium - Upper Marlboro, MD
A doctor who makes house calls.

This is great advice.  I had to hit the suggest button on this one!

Dec 26, 2011 04:51 PM #10
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Rainer
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Lisa Orme

Broker/Realtor, ABR, CRS,GRI, PSCS, SFR, Notary Pu
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