Three Words You Should Never Say To A Buyer
We all sometimes find ourselves within a selling situation, and then, habitually do and say things that immediately handed our negotiation power over to our prospect or potential buyer. They then hold the cards and have the ability to let us to succeed or fail. Talk about power.
The bad side of the situation is that we are of the opinion that we are doing the right thing; we are supposed to take these actions to keep the buyer’s interest in the property, he might just walk away. So many a times I have heard property owners say:
“I’ll take less”
“I’ll consider offers”
Property owners saying these words find themselves in a very difficult situation. Most buyers are out there looking for the bargain of the century; an if they realise that you are uncertain about the value of your property or urgently need a sale and are willing to do any thing for a transaction at the drop of the hat; they will take advantage of the situation.
Without knowing the market value of their property and how it is calculated, most property owners are afraid of loosing the buyer and cannot think of any thing else to say when the buyer initiate negotiations.
Regardless the situation never surrenders your negotiation power right at the start when a prospect shows interest in your property. You must keep your negotiating advantage and earn the respect of the prospect by communicate to him your knowledge of market values and why your property is in fact well priced for the features it offers.
Being arrogant in this situation will not help you much. Your purpose here is to let your prospect recognise that your property offers good value for money and should seriously be considered when the decision to buy is made.
Knowing the market and how market value is calculated, will put you in a position to turn down any offer that does not deserve your consideration.
If considering selling your home or are in the process of buying one; and are uncertain how to protect your negotiation position, please contact us for a free confidential discussion on how to calculate the market value of real estate.
Hendrik van Rensburg - Professional Associated Valuer
Contact number: 082 347 2923
E-mail: [email protected]