3 Negotiation Tactics for Homebuyers to Use in Their Offer
As a buyer, achieving your desired price on a home comes down to the negotiation tactics you employ. Today we’ll talk about three tactics in particular.
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How can you get into the home you want at the price you want? It starts by following these three negotiation tactics.
A central part of your negotiations is giving a face to your offer. Though many of our buyers give us a funny look when we suggest it, writing a letter to the seller will make the transaction much more personal. Just because it is a business deal, doesn’t mean that it should only be treated as such.
If the seller feels more connected to you, it raises the chances that they’ll be receptive to your offer. When written with sincerity, a personalized letter will cultivate that connection. Tell them why you felt connected to their home the moment you walked in and what you’re most looking forward to as their home’s new owner in the years to come.
Second, try writing a clean and positive offer. Although this can be more difficult than it sounds, a proficient and experienced agent can assist you with this. Making your offer clean and concise is especially important in multiple-offer situations. With a stack of offers on the table, the seller is much less likely to counter any of them and will instead choose the one they find most favorable up front.
Put your best foot forward by offering the maximum price you feel comfortable with and do your best to include all the terms the seller would like to see in an offer.
Finally, your agent should detail their credentials to the seller. After all, you’re not the only one who’s trying to sell yourself to the seller. In fact, one of the biggest obstacles in the real estate transaction tends to be the buyer’s agent.
I can tell you from experience that when I’m representing a seller and we’re in a multiple-offer situation, I scrutinize the buyer’s agent on the other side. As the listing agent, my mission is to make sure that my seller has the easiest road to closing, so it’s important for you to work with a well-respected agent who can sell both you and themselves to the seller.
When representing a buyer, one way we do this is by writing a letter to the seller that states why they should accept your offer over the rest. We assure them that you’re pre-approved and ready to close and we practice what we preach: We sell ourselves. This way, the seller knows we’re all working together to facilitate a smooth road to closing.
If you have any questions or would like more information about the art of negotiation as a buyer, please give me a call at 512-220-0565 or email me at Luisa@LMauroATX.com. I look forward to speaking with you!