Darin and Christina Cunningham | Re/Max Elite
278 Franklin Road Suite 190 | Brentwood, TN 37027
Office: 615.661.4400 | Fax: 615.661.4115
Christina: 615.394.4168 | Darin: 615.456.4086

Negotiating for Top Dollar When Selling a Home

When selling your house, odds are you are trying to get top dollar for it. You put your house up for sale and hopefully offers start coming. The goal is to sell the house at a higher price than you bought it for or at the highest price you can get. If you finally get a good offer, this is now the beginning of the hard part of selling your home. It’s pretty rare for an offer to be exactly what you are looking for, so be ready to haggle a bit.

It’s now up to you to negotiate with the buyer or agent to make sure you don’t leave some money on the table. Here are ways you can negotiate for a better deal.

Make sure your house is priced right

Pricing should not be based on how much you as the seller would like to get. There is sometimes a significant difference between the price you want and what the market will bear. As a seller, make sure you don’t hike the price up too much and also make sure you don’t make it so low it puts off some buyers. A real estate agent is able to give you a good asking price that reflects the current market valuation.

Take a better look at the first offer

Many times, the first offer is the best one. The best offers are usually the ones that come in right away after you put the property up for sale. Pay attention to these offers and take them seriously.

Be realistic

Being realistic is a good strategy instead of being stubborn in the negotiation. Your goal is to sell the home and accepting an offer with a lower price than your asking price is usually better than not selling the house at all. As a seller, be realistic and take into consideration the cost of not selling the home which may include monthly payments, insurance, utilities, maintenance and more. The total cost of keeping your house on the market puts offers in a better perspective.

Make a counter offer

If you get a good prospective offer, make a counter offer and give it a deadline. Not a short one, but shorter than the state’s default timeline to compel the buyer to make a decision.  Give your feedback/requirements regarding the offer and send them back to the buyer or agent and wait for their feedback.

Emotions aside

The selling process is mostly business and nothing more. It requires business skills, rational thinking, and negotiation skills. Just because you may not like a buyer doesn’t mean you can’t sell to them. Get your top dollar price and move on. If the best deal comes from a person you’ve quarreled within your neighborhood, try to put your emotions aside and think rationally. Sell and move on.

Getting top dollar for your house involves a series of complex transactions. It’s best to get a real estate agent by your side to help you move through the challenging process. A trusted realtor will increase your odds of getting top dollar for your home.

Leave a Reply