I’m going to reveal the one thing that will change everything about your negotiation process when it comes to home sales.
The negotiation process is the one part of the home sale process that many homeowners dread.
Which is one of the MANY reasons why I always recommend hiring a realtor – but that’s a subject for another day š
You are about to learn about one of the most influential tools that you and your realtor can be equipped with that will greatly influence your negotiation power.
This post is all about the one thing that will change everything about your negotiation process when it comes to home sales.
This 1 Negotiation Tool can be used to:
ā Set a realistic listing price
ā Support the asking price
ā Justify a price adjustment
ā Address low appraisal concerns
ā Facilitate a price agreement
ā Understand market conditions
Have you guessed what it is yet?
An Appraisal Report
I know, a little self-serving because I’m a real estate appraiser… But hear me out…
Here’s exactly how an appraisal report will change everything about your negotiation process when it comes to home sales:
ā Setting a Realistic Listing Price
For sellers, the appraisal report helps set a realistic and competitive listing price.
This can be presented to potential buyers to justify the asking price and provide them with confidence in the property’s value.
ā Supporting the Asking Price:
When negotiating with buyers, sellers can use the appraisal report to support the asking price.
The objective nature of the appraisal lends credibility to the listed value and can help overcome objections or skepticism from potential buyers.
ā Price Adjustment Justification:
If negotiations lead to a request for a price reduction, sellers can use the appraisal report to explain why the property is priced as it is.
The appraiser’s analysis, including comparable sales and adjustments, provides a solid basis for rejecting or accepting such requests.
ā Addressing Low Appraisal Concerns:
If a buyer’s lender orders an appraisal that comes in lower than the agreed-upon purchase price, the seller can use the original appraisal report to support their case for a higher value.
This may involve demonstrating errors in the second appraisal or highlighting unique features of the property.
(Here’s exactly how to respond to a low appraisal)
ā Facilitating Price Agreement:
The appraisal report can serve as a neutral third-party opinion that helps bridge the gap between buyers and sellers during negotiations.
Both parties may be more willing to agree on a price when supported by an objective opinion of the property’s value.
ā Market Conditions:
The appraisal report should include information on current market conditions, trends, and comparable sales, providing context for the negotiation.
This data can be used to explain why the property is priced as it is.
Here’s how to find the right real estate appraiser for you.
We routinely work with realtors, homeowners, and buyers providing appraisal reports prior to listing their property for sale.
And have heard that it comes in very handy during the negotiation process.
I hope you found this helpful. Always happy to answer your questions š
