Speaker 1: Hey, welcome back. Thanks so much for joining us again. I told you I was going to leave you with a big tip as far as negotiations go, and I will. I’m going to just recap what we’ve gone through so far today first.
And that is understanding that when you get an offer in, that the price is important, so is the closing date, but also so is the financing. And just so you know, and I didn’t mention this in the first segment, but look, if this buyer is putting 20, or 30 or 40% down, that could also be a part of negotiations, meaning that maybe it wasn’t exactly, and many sellers have done this, it wasn’t exactly what they wanted. But it was awful close, but they had such strong buyers.
Again, as sellers know, and as everyone knows, if you don’t have the money it doesn’t matter. And you got somebody that’s putting 30 or 40 or even 10% down, that’s considered high in today’s market, and even 5% or 7% or 8%. That’s considered a pretty strong offer, as it goes up it even gets better.
Don’t forget about that. The also is how fast negotiations. Technology has changed anything. Yes, you can do 24 hours, but believe me in most cases that’s a very long time in today’s market to take. And it can be done in hours and it can be done in minutes. 10 and 15 minutes.
Also we talked about the low ball offer. They do happen, but they very seldom happen. They really very seldom do. But if they do, always counter back. You’ve got everything to gain, nothing to lose. I understand it’s an emotional thing, I understand it’s somewhat personal as a seller. This is your pride and joy you’re selling in most cases, but still, make that counter offer. You might be very surprised. And if you don’t, well then you move on. It’s okay. Move on to the next showing, next offer down the road.
Also, who is your realtor? Do they have the competence is really what we’re talking about. Do they have the competence to consult with you when an offer comes in, give you your options, give you a full spectrum. Yes, sometimes buyers do walk away and they don’t come back. Sometimes they come back, but not too often. I wouldn’t be waiting too long for that. They usually moved on to another house. So if a deal doesn’t go, a deal doesn’t go through. Very seldom happens, but just knowing that.
How are you negotiating, what’s the circumstances, how many showings have you had? How long have you been on the market? What is you as a seller situation? How important is it to get out of Dodge? Where are we at with the pricing? All of those things come into play, and those are things you should be asking questions about.
And the last thing I’m going to give you is a tip. And this is a tip, maybe of the week. When you’re putting your house on the market, your agent and buyers always ask this, is “Why are you moving?” What you always should have your agent telling them is “My seller’s housing needs have changed.” That’s it. That’s it. Everything else is information that buyers will and do use to negotiate pricing.
If they know that you have to move, if they know that you have a divorce, whatever that situation is, that can literally cost you five, 10, $15,000 in negotiations. So just have that one tip and keep it to yourself also when you’re telling your friends and let them know, even if it a bad situation or a good situation. You don’t want that information out.
Hey, next week we’re going to be talking about the military buyers coming in. You don’t want to miss it. Go to ReadySetSold.org, not .com, get that book. Have a fantastic Saturday.