Once your house is listed and you begin to schedule open houses and showings, you’ll need to begin considering your negotiating strategy. Start with these simple concepts.
Decide what your minimum acceptable price is.
Decide on your negotiating strategy. Are you adamant about receiving full price? Will you attempt to meet the buyer in the middle? Will you work toward being certain that your absolute bottom line is met?
Over the phone or the Internet will work, but negotiating in-person can be of real benefit since it allows you to read the other side’s body language.
Getting to yes is your goal, not besting the buyer. Resolve to keep your emotions in check and approach your negotiating process in a logical manner.
Update your comparables so you enter into negotiations knowing what is happening in your local market today.
Make a list of items you would be willing to negotiate about with a buyer. For instance, would you be willing to leave your children’s play set behind as part of the deal?
Perform a thorough self-inspection of the house to anticipate what the buyer’s inspector might find. Then fix what you can and prepare to negotiate around anything you can’t afford to fix.