In the current local real estate market, sellers often have the upper hand when it comes to negotiating. Here are some strategies for negotiating the best offer for the sale of your home.
Secondary Offers. As a seller, you can accept secondary offers that act as a backup, if the first offer (primary) falls through. Even better, you can accept several secondary offers and then choose the best one if the need arises.
Countering other offers for the secondary position is a good strategy to secure a closing and get the best price. Employing an experienced and well-educated REALTOR®, can help guide you through the secondary offer process.
Multiple Counter Offers. It is a rewarding time if you are selling your home in Oconomowoc, or surrounding Lake Country area. It is common to see sellers receive multiple offers on their home, especially if it is listed under $300,000.
Instead of accepting or countering the best offer, one strategy is to multiple counter a few of the best offers. This tactic can help you negotiate the best price and terms with the interested buyers for your home.
A multiple counter offer also alerts buyers that others have also submitted an offer. Knowing this may encourage interested parties to offer more money, eliminate contingencies, and/or offer other favorable terms for the seller.
Set a realistic asking price. Pricing your home correctly can attract a bigger pool of buyers and lead to a bidding war. A well informed, local realtor will be able to provide you a comparative market analysis for your home, to determine a realistic asking price.
Houses that stay on the market longer can lead to buyers offering lower prices and may try to negotiate terms of the contract. A correct listing price from the start can lead to a higher sale price, more favorable terms, and a quicker sale.
Offer a Home Warranty. One approach to maintain your asking price is to include a home warranty with your home. Providing a home warranty is a great buyer incentive and can help boost a buyer’s confidence.
Offering a home warranty can help reduce or eliminate the buyer trying to negotiate. It can also help avoid you avoid a closing delay, due to an unexpected failure of an appliance or system.
You can receive a FREE one year home warranty when you sell your home with Oconomowoc Realty, up to a $500 value. Check out our promotion page to learn more.
If you have been thinking about selling, feel free to contact us for a consultation. Our team can provide you insight on the local market conditions, along with providing you a free comparative market analysis for your property.