“Reasonable and Negotiable” - Posted by Tony-VA
Posted by Tony-VA on February 17, 2000 at 07:52:57:
Let us not forget what Lonnie taught us. The two magic words, “Reasonable and Negotiable”. I am glad you posted this question because it reminds us all to reflect on our negotiating skills and takes us back to where the problems begin…the basics.
Buyer: "What are you asking for the home?"
You: “The price is negotiable, but if the offer is reasonable, we will work with you. Will you be paying all cash or need financing?”
From there you roll right into your typial lonnie deal.
As you mentioned, I am a big proponent of using the “higher authority” technique. You always have your wife as your higher authority that you must run offers buy. “I don’t know, my wife would never let me sell for that low, is that the best you can offer?”
This technique has worked very well for me, in slightly different versions, but can be used in many scenarios. It is not the cure all technique, but is pretty versatile.
Stick with Lonnie’s technique of “reasonable, negotiable,” especially when talking on the phone. I like the suggestion below, say “I don’t exactly know what it’s worth, come by and perhaps you can tell me.” Then when they get there and low ball you, hit them with the Higher Authority Technique or roll with the “reasonalbe, negotiable…will you be paying all cash or require financing technique.”
Get them out to meet you face to face so that you can apply your skills and close the sale. With these 3 or 4 techniques used together, you are in a substantially stronger negotiating position. Act motivated to get them to your door, but remain the reluctant seller, because you don’t have to move. (Now you have 6 techniques rolled into 1!)
Best Wishes My Friend,