Hey everyone, Mike here and welcome to another episode of #heysumaraisteve. Steve what question do you have for us today?
Hey Mike, today’s question is as follows: We made an offer on a home and after negotiating we were still about 5% away from making a deal. What can we do to make the owners more reasonable?
Interesting question Steve and I can probably spend an entire day talking about this topic.
First off, who says the owners aren’t reasonable? Assuming you’ve checked off the initial requirements of checking the overall market then the local market to the home, meaning the community it’s in and the street it’s on and what comparables are selling for and what the supply and demand are for this type of home and so on… and you have a strong case to justify the price you’re putting forward but the sellers are still stuck.
At that point, a better question you should be asking yourself: is there anything I can change other than price like possession day or any of the other terms and conditions I have in place that would entice the owners to accept a lower price.
Keep in mind, these sellers have went through a lot of work and put their place up for sale because they WANT to sell and are motivated to do so. What I can tell you is finding out what’s most important to them could be your solution.
There’s a number of specific things your realtor can do prior to placing an offer and during the initial stages that could set you up for a successful negotiation,… and if you’d like to learn more about what my process is make sure to go to PlanWithMike and schedule a call with me.