Selling a property can be a confusing and complicated process but negotiation can also be a time that involves the most creativity. Matthew Aaron will provide a calm and organized presence to an otherwise emotionally charged situation.
Motivations and urgency towards selling should remain hidden from a buying party; any vulnerability you show could end up compromising the outcome. It is important to stand firm on your priorities throughout the process in a manner that suits the situation. Taking control of the negotiation is sure to make you feel stronger but in effect may make a prospective purchaser feel weak and uncertain. When buyers feel more in control, it adds confidence in their decision making. The balance between appearing humble and assertive should depend on the circumstances and audience.
Offer presentation requires thoughtful preparation. It is in the best interests of sellers to communicate with all interested parties before review, addressing questions and concerns that may hinder the process. The more lead time the better, as favorable terms can be discussed and incorporated into competing bids. Understanding a buyer’s priorities may improve negotiations, resolving any obstacles more efficiently.
Multiple Offer Negotiation
Navigating multiple offers can be a challenge. When sellers receive more than one bid, the disclosure requirements to each party who has submitted are:
- the number of offers that have been received,
- whether any of the buyers are being represented by the seller’s brokerage,
- and whether there is a commission advantage for any buyer.
Shifts in consumer preferences can change very rapidly. When working with a viable offer, response time and fast completion are ideal to take advantage of a purchaser’s interest and perception of value. Even foregoing progress on small issues to consolidate larger ones may prove advantageous in keeping an offer active. In most situations, the sales process flows smoothly without many concerns along the way. Remember that your success is a mutual accomplishment!