One of the most critical skills your agent should possess is the keen ability to negotiate – especially in the current North Atlanta Real Estate Market. Karen Salter has honed her ability to negotiate through years of experience that have resulted in an incredibly satisfying, award-winning career. Equal parts art, science, steely resolve, and personality… her negotiation abilities have her clients coming back to her again and again. Read on for some simple negotiation rules to help you negotiate your way toward being “the one” that gets that home…
In a perfect world, your offer is perfect and there’s no need for negotiation. But that’s not the world we’re in. Yes. There are still sellers that accept “best offer received,” however, be ready for rejections, and counteroffers.
Even if (best case scenario) your offer is at the top of the seller’s multiple offer pyramid, Karen and you will still be in the driver’s seat should a counteroffer ensue… armed with the confidence to accept new contract terms, negotiate further, or walk away.
Below, eight tips and strategies that Karen will use to get you the deal you need.
#1 Be Quick. Like Lightning.
When you receive a counteroffer, respond quickly — ideally within 24 hours. Don’t leave room for other prospective buyers to swoop in and nab the property. Hesitancy is not a good look in this market.
#2 Up Your Ante
Nobody wants to overpay, but there may be room to sweeten your offer. Karen’s expertise will help you come up with a reasonable add to serve as proper enticement like providing appropriate “comps” to help persuade the seller of your new higher offer’s attractiveness. Do not be tempted to overextend on budget, and what you are approved for. You are not out of options…
#3 Bump Up Your Earnest Money Deposit
It’s called earnest money for a reason. Show the seller just how earnest you are. A standard EMD is typically 1% to 2% of the sales price of the home… making a counteroffer with a 3% to 4% deposit could help the seller lean your way.
#4 Be Patient
Let the seller’s timetable reign supreme. Being flexible around the date you’d like to take over the property could grease the pan too. Lead with consideration of the seller’s needs, and desires.
#5 Drop Some Contingencies
Boost your counteroffer by losing a contingency, or two. It’s a way of communicating your comfort with fewer “backoutabilities” and can provide reassurance to seller. But be selective… some contingencies are too important to give up.
#6 Require Fewer Concessions, Especially Around Closing Costs
#7 Pick Up Cost of Home Warranty
#8 Know When to Walk
For all your real estate needs, please contact Karen today. She’s a proven negotiator with years of experience that will make a tremendous difference in your experience and outcome. She would love to work with you, and negotiate on your behalf.
For other helpful tips and strategies on buying a home, check out Karen’s earlier Blog Posts like How to Prepare for a Bidding War and What Your Generation Should Know About Buying A Home.
