As a seller best not to engage in too much conversation with your buyer. When it is possible for the home buyer and seller to meet, such as during the inspection, an experienced, aggressive buyer rarely hesitates to engage in friendly conversation with a seller about the home. After asking a few questions of the seller, and perhaps negotiating personal items the seller wants to get rid of, the conversation becomes easier to switch over to the discussion of price.
This has happened far more often than not. Their favorite question is “Would ja take $___ for your home?” As a seller, you could be put on the spot and best to yield to your Realtor.
Sometimes, you as the seller may get caught off guard and shocked. Other times a seller says, “maybe.” ooops, this opens the door to less than favorable outcome.
Better yet, many times the buyer may ask, to the shock of the nearby hovering real estate agent, “What is the lowest price you could take for this home?” When that price isn’t acceptable, the buyer may come back with the “would ja take offer” which often produces better results. Best to always yield to your realtor.
If you are the home seller and you encounter a disgusting buyer like this, your correct answer should be, “Well, why don’t you put that offer in writing so I can seriously consider it.” Then the seller can either accept it or make a counteroffer.
CONCLUSION: Home sale prices in a competitive market are determined by careful negotiations between seller and buyer. Both parties should be aware of the most frequently used negotiation strategies. I honestly recommend a seasoned and experienced Realtor to discuss this matter with you, and then negotiate for you. Caught off guard could cost you as much as the brokerage fees if you’re the seller, and more often than not as a buyer, your Realtor fees are minimal if anything to represent you.
It’s best to engage a Real Estate Agent for only the buyer or seller and another agent for the same. It’s important to understand if the listing agent represents you the buyer in the same transaction, the brokerage becomes a transaction broker and only facilitates the sale, with minimal confidentiality. You the buyer believing you may save funds in the purchase price because there is room to negotiate down the brokerage fees could result in less than acceptable outcome.