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Take Control in Negotiations

Whether buying or selling, you can always be in control of the terms and conditions you wish to accept.

You never need to worry about a deal not addressing your concerns – simply address them in your side of negotiations. The smartest thing to do is to position yourself so that you can enter negotiations in the most advantageous position. That means being alone out front instead of where the crowds seem to hang out.

Example: people (the crowds) tend to look for a property they’d like to buy before they sell the one they have. When you place an offer subject to sale of your existing home, the offer has to be pretty good in order for that Seller to accept it. Remember – you’ve just established a price point in his/her mind. If someone comes along with another offer that doesn’t have a subject condition, you’ve set up a scenario that increases the possibility for that same Seller to accept something lower than your offer. So – you probably offer higher than you normally would to get the Seller to accept your offer subject to sale of your home. Conversely, when you put your own property on the market, you’re already emotionally attached to another property which makes you more vulnerable to selling lower than you would have if you hadn’t already found a property you want.

On the other hand, if you place your property up for sale before you find something you want to buy, and an offer comes in, chances are you’re feeling pretty confident in the negotiating process because you’re not that motivated to move anyway. So you’ll hang a little tougher to get your price. When you do get your price, you can always come to an agreement subject to ­ you finding a property suitable at an acceptable price to you. You set a time frame on when you will look for that home. I recommend 7-10 days. Picture this: now you are also in the driver’s seat when buying. The Seller of any interesting property knows you’ve sold your home and you are going to buy something – maybe even that same day. Guess who has the upper hand in that scenario? Right! You do!

Now you’re in the position of control. Take it.

Call me. I have lots of other great strategies too. We’ll work together to accomplish your goals.

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Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.