Understanding the mind of a home seller can help you Negotiate and Win the property of your dreams.
How To Beat the Competition
Be Prepared For Competition.
When you find the best property for YOU, it's very likely that someone else will have found it. The BEST properties get the most exposure and SELL in a short period of time in most markets. Simply, if you wait you will lose out.
Know Your Limits.
Before you begin it's important you have an idea of where you want to start with an offer and how high you're willing to go. At some point in the negotiation you may realize the need to go above your upper limit to have you offer accepted.
The reason to have a good grasp on your upper limit in advance is once negotiating you are able to make quick decisions. A buyer who hesitates during negotiations opens the door for other buyers to "steal the deal."
Start With a Strong Offer.
If you know your local market and are working with a Full-Time Professional Real Estate Agent, you probably have a good idea of fair pricing. It can be tempting to start with a lower offer, hoping to negotiate with a seller.
Depending on how popular the property is there could be multiple offers. If multiple offers exist, you may not get another chance to increase your offer price or better your terms. It is CRITICAL you work with an experienced agent who can provide advice and guidance.
Establish a Partnership With Your Agent.
The best deals sometimes come and go within hours of being listed for sale. Your Real Estate Agent should be constantly searching the MLS network for properties that work for you. Also, this agent should be an expert within their local market, having connections with other agents.
Your Realtor will often be aware of upcoming properties that aren't even on the market and/or not expected to last long. This pre-market awareness can put you at a significant advantage to other buyers, especially in a thriving market like Myrtle Beach.
Share Your Goals.
In order for your Realtor to be the most productive they need to understand your goals. With an understanding of your goals and criteria the property search will be much easier and more productive.
What Does the Seller Need or Expect?
This doesn't mean you should find out how much money they want and offer that amount. It simply means you can negotiate a better deal and keep the competition at bay by creating an offer that meets some of the sellers goals. Researching the sellers timeframe and reason for moving could add value to your offer without adding money.
What Will Shut Down the Seller.
In addition to knowing what the sellers expect, it's equally important to know what will turn them off. Things like closing costs, home warranties, and lowball offers can sometimes shut down the seller during negotiations.
An experienced REALTOR is an expert with these type of negotiations. They can go even further to find out if a previous offer was presented and why it was not accepted. All of this information can be used for YOUR advantage.
Let me be your guide to purchasing a home in Myrtle Beach. Please refer to my Buying a Home page for greater detail about my process of helping you purchase the perfect home at the best possible price.
Let's work together.
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ASHLEY DELONG | REALTOR© |
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