Setting Expectations + Clear Communications = Successful Seller Negotiations!
Successful negotiations strategies for your seller start with you the listing broker. You have worked hard for the listing starting with pricing appropriately, giving buyers ample access, making it beautiful and exposing it to the market on steroids. Be sure that you are communicating the process to your seller. We all know this market is moving faster than a speedy bullet with low inventory and multiple offers. It is important to set the expectation with your seller so they can negotiate without the process stressing them out. Once you know your seller’s priorities you can move forward more easily through the negotiations.
10 Steps to Success!
- Set the expectation with the seller
- Utilize a negotiation log
- Determine what terms are most important to your seller
- Clearly communicate to all interested buyer brokers
- Set the timeline for offer presentation- highest and best
- Review all offers with seller, and explore and investigate options
- Seller can accept, reject or choose one offer to negotiate or ask for highest and best again
- Remember you cannot counter more than one offer at a time. There is only 1 home to sell
- Clearly communicate to buyer’s broker the terms and or conditions of all counters
- Move quickly. It’s not complete until it is signed! AND DELIVERED!!