Perhaps understandably, with the huge inventory of homes for sale in Hawaii… diligent buyers are looking at a lot of property before they make their decision. Some buyers even make multiple offers on Active listings to gauge the market and see which sellers are the most willing to accept their price. Even if they’re not, most buyers feel justified in submitting offers for what they believe to be “market value” given the current circumstances.
Here are some simple negotiating tips that can help sellers get their homes sold:
1)Â Never, under any circumstances, “reject” any offer. Even if you’re insulted, angry, or for some reason absolutely convinced that the buyer would not or could not pay the price you’d agree to sell for… always Counter every offer. Ask your Realtor to submit the simple, 2-page ‘Counter Offer’ form.Â This saves face with the buyer, and I can’t tell you how many deals go together after the Seller’s first Counter Offer, even if the buyer’s original offer was really low!
2)Â Terms are important, too. There’s more to a contract than just the purchase price.Â For example, cash is more powerful than credit, and the security of a cash transaction might be worth a lower price.Â If it’s not cash, is the buyer pre-approved for a loan? Also, how long is the transaction going to take?
3) Consider the frequency that you receive offers. There’s a reason for the cliche that ‘your first offer is often your best offer’.Â Â If your property has been on the market for several months, when you finally receive an offer, you have to consider that it may be several more months before you receive another one.
Every buyer wants to feel like they made the right decision.Â With a little patience and consideration, reaching a deal that’s fair for everyone is often easier than it seems.