When you think of selling a lake home, or any home for that matter, you probably think of negotiating. Whether you’re great at it or if your skills could use a little practice, it’ll probably come into play. Lake Homes Realty’s CEO, Glenn Phillips, goes over 5 key tips for when the time of negotiating arrives.
- Any Offer is Better than NO Offer!: Don’t get upset because somebody made a low offer. The people you should be upset with are the ones who didn’t make an offer at all. Having a low offer just means you have some started.
- Don’t Get “Stuck” on Single Points: In negotiations, don’t let one thing hold you up. You should let it ebb and flow.
- Agent Commission: You want an agent who brings their value.
- Seller’s Compensation: If the buyer has made an offer and wants some compensation to help cover costs, figure out how that fits in.
- Closing Costs: Similar to the seller’s compensation, find out how this will fit in with the negotiations.
- Personal Property: Is there a boat, interior decor, whatever it might be, there is a way to find opportunities to help make the other party happy.
- Cash Only Means Less Closing Risk: If the buyer makes a big deal about it being a cash offer, from the seller’s perspective, cash offers only matter if it is de-risking the deal. If you’re selling, you’re getting cash from somebody regardless.
- Restructure Offers: Being able to find ways to work with the offer or make it mutually beneficial can help more than people might realize.
- Be Creative: You can come up with some angle for a home that people might not think of. There are plenty of ways to be creative to help everyone.
Negotiating is something that comes along with buying or selling a home. However, if you take these tips into consideration, it can truly help with the process. As always, if you’re looking for more information regarding negotiating or have any other real estate questions, reach out to one of our lake experts at LakeHomes.com.