Negotiating Tips When Selling Your Home

Selling your home is one of the most important steps in your life.  The following system will give you the tools you need to maximize your profits, maintain control, and reduce the stress that comes with the house-selling process.

1. Know why you’re selling, and keep it to yourself.  When asked, simply say that your housing needs have changed.
2. Do your homework before setting a price.  Pricing your home too high is as dangerous as pricing it too low.  Remember that the average buyer is looking at 15-20 homes at the same time they are considering yours.
3. More Homework!  Find out what the homes in your area have sold for in the past 6-12 months.
4. Find a good real estate agent to represent your needs.  Communication before and after the sale is critical in this situation.
5. Maximize your home’s sale potential.  Appearance is critical, and it would be foolish to ignore this when selling your home.
6. Make it easy for prospects to get information on your home.  The more buyers you have competing for your home the better, because it sets up an auction-like atmosphere that puts you in the driver’s seat.
7. Know your buyer.  What is their motivation? Do they have enough money to pay your asking price?
8. Make sure the contract is complete.  Make sure you disclose everything. Make sure all terms, costs and responsibilities are spelled out in the contract.

Don’t move out before you sell.  Studies have shown that it is more difficult to sell a home that is vacant because it looks forlorn, forgotten, or simply not appealing.  It also gives the allusion that you are highly motivated to sell fast thus giving the buyer a negotiating advantage.