Negotiation - Posted by Chuck

Posted by Gerald-DC on October 01, 2003 at 18:40:42:

I would think the first thing you want to do is come up with a fair mkt value of the property. It is extremely important to price the property right. Resist the temptation to ask for more than the mkt rate b/c that may lead to the property sitting longer than it otherwise would.

As far as negoitations, if your house is priced right then the things that you may have to negoiate may be things like the inspection/repairs, closing date, escrow company and such as that.

It would be a mistake to tell people different prices depending on your mood. Set a reasonable price, mkt the property and worry about negoiations when you get a contract.

If you are selling this house on your own you may want to consider a fee for service brokerage firm who can help you with different aspects of the process. That is, you pay for only what you need or want.

If you want them to list the property only, you pay a fee for that. If you want them to negoiate the contract only, you pay a flat fee for that, if you want them to coordinate the settlement only you pay a flat fee for that, etc…

Not sure where you are located but check the web for local outfits if this appeals to you.

Negotiation - Posted by Chuck

Posted by Chuck on October 01, 2003 at 18:28:15:

What is the most effective way to negotiate a real estate purchase? (Basic negotiation skills). If I want to sell my home for $150,000 w/o a sellers-agent, do I give the buyer an opportunity to make an offer not disclosing what I really want out of the deal or what the home is worth?

What if a person hasn’t done their comps and comes out and makes an offer, do I give them a price higher than what I want thinking we will come to $150k for the home?

What has been some of your experiences in dealing with real estate purchases? I’m FAIRLY new at this and I’m wondering if I’m going to have to negotiate a price like I’m hassling with a car salesman.

Any information will be greatly appreciated!