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Real estate tips: How to negotiate house price when selling

by Roseann Dugan 09/08/2024

two people with paperwork

The home selling process can involve varied house prices, which makes it crucial to learn how to negotiate those prices. As a seller, you want to get the best deal possible, even if not in a seller's market. If a buyer offers less than the original asking price, it's time for negotiation strategy.

Working with a real estate agent, here are some tips for negotiating a selling price:

Always use market value as your starting point

The market value of your home is the actual amount a buyer is willing to pay in context of the current market. In a buyer's market, a seller may need offers below the present cost of the property in order for a house to sell. If the price is too much higher than market value, offers may be too low to be accepted.

Keep your list of upgrades handy

Buyers often raise concerns about features or details of a property in an attempt to negotiate lower prices. Therefore, it's important to counter with the positives to their negatives. One great idea is to emphasize any upgrades or improvements to the home that might outweigh a buyer's misgivings.

Know the housing market

Knowing the market value of your home is just one piece of the puzzle. Understanding the trends of the overall real estate market in the area you're trying to sell in is essential. 

Real estate agents can help you choose the best price with comparative marketing analysis, or CMA. This type of report gathers data on market behavior regarding asking price, purchase price and the likelihood of multiple offers.

Negotiate from a win/win perspective

Negotiating isn't necessarily win or lose. If you approach your price negotiation from the perspective that everyone can win, you're likely to be more successful. Addressing buyers' concerns and interests with a collaborative, positive outlook can win you a higher home price, even if the initial offer is lacking.

inforgaphic about negotiating home price

Negotiation can seem intimidating, but real estate professionals are there to help you. Using these guidelines, you can ensure you get the highest possible amount for your home sale, no matter what offers you receive.

About the Author
Author

Roseann Dugan

 

Hi I am Roseann Dugan,  I have over 25 years experience working with both buyers and
sellers. I have been licensed in four different states and am very familiar
with the relocation process. I have worked extensively with relocating families
and I hold the designation as a Relocation Specialist. I have also worked
with Land development and New Construction. I am also a Senior Real Estate
Specialist (SRES) and an Accredited Buyer's Representative (ABR). 

I am a Full Time Agent who is dedicated to making the Home
Buying or Selling Experience a positive one