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Top 5 Negotiation Strategies when Selling Your Home

What to know when you negotiate with a buyer

Maria S. avatar
Written by Maria S.
Updated over 7 years ago

These are tried and true negotiation strategies that will help you get the best price for your home.    

1. Be Prepared!  Don't start thinking about negotiation after you get an offer.  Think about it as soon as you list your home or even before.

2. Create a List.  Create a list of all the things that you could possibly negotiate on.  Everyone knows price is negotiable, but what about amount of hard money deposit, time allowed for inspections, maximum mortgage rate buyer will be willing to accept from a bank, type of inspections allowed, time till closing, time of contingencies, personal property included in the sale, concessions for repairs, who pays certain fees and taxes, amount of buyer's broker commission?

3. Ask questions that might help you figure out which items on your list of negotiable items matter to the buyer.  If you can find items that you can give away that don't matter to you, but hold value to your buyer, it will enable you to get something of value to you.

4. Keep the emotion out of it.  If someone makes a low offer or tries to renegotiate after an inspection, don't get upset or think about what is fair.  Try to stay focused on what gets you the best outcome, regardless of what happens to the other person.  

5.  Get and read the book "Getting to Yes".  This is the gold standard of negotiating and is a quick easy read.  It contains some of the best negotiation strategies of all time, with specific details on when different strategies work better.  It's a small investment with a potentially huge payback.  You can pick up a copy here:  Getting to Yes.

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