Tips On Negotiating The Deal
Make it a win, win.
When someone tries to beat the Seller in a negotiation, they almost always end up losing. They pay a higher price than the Seller would have accepted in the first place or they lose out on a great home. Professional negotiators work to set up a "win, win" scenario where both parties are satisfied. Winning in a home negotiation should be defined as Buyer getting a great home at "fair market value" and Seller receiving "fair market price" for their investment. A good Verde Valley Realtor can help you to review the market in an area to determine the ballpark "fair market value". Our definition of negotiation is two parties making a strong effort to try to come together to make a deal.
Make a strong offer and don't play games!
Give them something they can sign - If you offer is strong, the Seller might simply accept it instead of feeling the urge to counter-offer.
Keep it "clean"!
Keep the offer simple. Don't negotiate something "out of the norm" unless absolutely necessary. Sellers (and humans in general) tend to shift their focus to negative items. If you request something in the offer that is out of the ordinary, the Seller might start to focus on these insignificant negative items and this will make the entire offer look worse .
Don't justify your offer!
Your offer should be strong enough on its own and not need justification. This is a very common mistake in negotiating. The Seller is not interested in your reasons that you have for offering less on the home. As a matter of fact, Sellers are proud of their homes and usually take it personally when someone starts taking shots at their pride and joy. Simply make your offer and wait for a response.
Don't talk to strangers!
Avoid talking with the Seller or the Seller's Agent about negotiation items. It's nice to have the Real Estate Agents working as a buffer for negotiations. When Buyers talk directly with Sellers or their Agents, someone might get offended and blow up the deal.
Trust the power of the pen!
Always put negotiations in writing. Verbal negotiations have a strange way of falling apart quickly. Even worse, you might think you have a deal, but neither side understands the terms of the deal. I have seen many people have convenient memory lapses.
Be reasonable man!
Try to keep your emotions out of it. Many deals are lost over silly things and small amounts.
The million dollar question;
"So, how much $$$ do people usually negotiate" in the Sedona Real Estate Market?
This is a tough question and I get it a lot. I can't give a straight answer because it varies on every home. However, I can give you the averages of what we see in our market. In the current Sedona home market I see Buyers and Sellers negotiating an average of around XXX% or less off of the purchase price (this is a VERY ROUGH average based on homes that have been on the market for around 30-45 days. This is not a scientific calculation. It's simply my best guess.)
Respond quickly to counter-offers!
Keep in mind that when an offer or counter offer is made, it can be withdrawn while awaiting a response. Even though the standard Arizona real estate forms provide a deadline for offers, the party awaiting a response can still withdraw their offer before the deadline (if they have not yet "received" and "accepted" your response).
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