4. Keep your list of upgrades handy
Buyers often bring up things they don’t like about a property as a way to negotiate a lower offer. For example, they may not like the wallpaper, the color of the paint, or something else. “Be prepared and ready to counter by telling them the positives to the negatives to prove your house is worth the price,” advises Carlson. “You can counter them with, ‘Hey but I also put in a new furnace and a new AC.’”
Carlson says she starts out by listing what the seller has done. “That’s my job as a listing agent. I’m writing a huge list of all the updates and upgrades even before they come in the door because that counters any negatives.”
5. Swap personal items for closing costs
Carlson says trading personal property for closing costs is a negotiation strategy that can sometimes work. When a buyer points out an issue and tries to talk the seller into paying closing costs, a seller can offer an item they don’t really care about (or wish to move) of equal value.
As an example, the seller can say, “I’ll give you this hot tub or pool table” instead of paying your $5,000 closing costs. Is that stuff worth $5,000? Sure. Is it worth it to the buyer? Maybe.
6. Waive the inspection contingency with a pre-sale inspection
One of the biggest deal breakers is the inspection contingency clause. Carlson encourages sellers to do a pre-listing home inspection, especially in older homes to avoid buyers walking away or delaying the sale due to inspection issues. This way, sellers know about any issues ahead of time.
“Sellers will likely need to fix some things, but they’ll get a clean offer that goes right to pending when they do a pre-listing inspection,” says Carlson. “They won’t be waiting for a surprise after an inspection and have to do all those repairs.”
Carlson says if a seller hopes to get “a bunch of offers that aren’t contingent on inspections, a pre-listing inspection is the way to do it.”
On the other hand, If you don’t want to do a pre-listing inspection or get involved in hiring contractors for repairs, consider working the cost of repairs into the closing. “If there’s a list of repairs, we are proponents of giving a credit on closing costs or price, so the seller doesn’t need to do those repairs,” says Marc Takacs, a top-selling agent in Atlanta. Takacs explains that this also benefits the buyer, since it allows them to “control the quality and level of work.”
Last-minute tips on how to negotiate when selling a house
To stay in the driver’s seat, Carlson says you can set yourself up for success by making your home available for showings. This allows you to invite as many people as possible to come through the door. “Providing access is huge to stay in the power seat,” explains Carlson.
“Another way to stay in the driver’s seat is to get really good feedback right away,” she adds. “You can quickly change the game if you’re getting poor feedback and reestablish a price or fix something.”
“Always take great-looking photos and be in communication with your agent,” recommends Carlson. If you feel like you’re not getting your questions answered by email, and your agent isn’t answering the phone, set up a phone call.
“At the end of the day, it’s a personal relationship with the agent that gets the deal done,” says Carlson. “You have to get along, and you have to make things work to negotiate a successful close.”
Header Image Source: (Benjamin Child / Unsplash)
