Win-Win Contracts for Buyers and Sellers

Win-Win Contracts for Buyers and Sellers

 

Buyers and Sellers are traditionally thought of as adversaries, and while it’s true they often square off during negotiations, it’s possible for both buyers and sellers to win in one home sale! Part of the secret is to understand the other point of view so you can negotiate a winning compromise!

Home Buyers

Buyers are looking for a lower price, the home of their dreams with features important to them, a home that’s ready to occupy, a home in great condition, and a home that will be a good investment over time.

Home Sellers

Sellers are looking for a price that gives them a good profit, recognition of the value they see in their current home, an easy sale without having to do improvements or fixes, feeling that they’ve gotten the full value out of every improvement they’ve already made, and to feel that this house was a good investment and served them well.

How Realtors Negotiate Win-Win Contracts for Buyers and Sellers

Your REALTOR uses their knowledge of buyers and sellers to negotiate every day. The more you understand about how the negotiations work, the more flexible you may feel about meeting in the middle ground and allowing both parties to win.

For instance, rather than offering an opening bid so low that it can’t generate a counter-offer, your REALTOR may offer comparable homes that have recently sold in the neighborhood as proof that a lower price is reasonable. That gives sellers a reason to compromise.

Sellers may not want to replace the carpet or cracked bathroom tile at their expense as they are trying to move and close on the home in question. So, sellers may offer an “allowance” to offset the cost of new carpet. This provides them with more time, but acknowledges to the buyer that the carpet is getting older.

Perhaps the buyers are in a hurry to move in, but the sellers’ new home isn’t ready yet. The parties can close on the home and the sellers may agree to rent another home for a month until their new home is ready, or the buyers may agree to rent the home back to the sellers.  There are many solutions that can be found with a Realtor who is willing to dig deep and find the key negotiating points.

Take a deep breath and consider how you’ll feel when it’s your turn on the other side of the deal. Then get creative with your real estate professional to find solutions that create a win for both parties!

14 Steps to a Successful Home Sale

You’ve decided it’s time to move to a new home and neighborhood but first you must sell your home. Selling a home might seem straight forward, but there are more steps than just putting a sign in your yard.  Here are all the steps to complete in order to sell your home for the best price.

14 Steps to a Successful Home Sale

  1. Choose a REALTOR. Talk to several agents, and listen carefully. Does the agent understand what’s important to you? Do they listen to you? Do they communicate clearly and in a way that makes you feel comfortable? Are they experienced? Do they have a proven track record?
  2. Sign a Listing Agreement with your chosen REALTOR.
  3. Listen to your REALTOR’s advice on how to present your home for a successful sale. “Staging” your home by removing some personal items, or making minor cosmetic repairs can be worth the effort, in dollars and sense! The Columbus Team includes staging services with every listing.
  4. Prepare your home for sale. Turn up the curb appeal, lose the clutter, and store some of your personal items. You are in a competition for buyers, so your home needs to look it’s best!
  5. Evaluate how much your home is worth in today’s market. Use the market analysis provided by your Realtor, and the information you have about your own neighborhood. Remember, the market has changed, and when you’re competing to attract buyers, you must price your home well to sell.
  6. Your REALTOR will install the “For Sale” sign and lock box.
  7. Prepare your home for showings. Make sure your home is clean, smelling and looking it’s best. Tidy up and take pets and kids to the park, or to a neighbor’s during the appointment. Your home only gives each buyer one first impression, make it the best!
  8. Wait. This is the toughest part of selling your home. Your REALTOR should keep you updated, and give you feedback on each of the showings.
  9. Consider the buyer’s offer. Are they pre-approved? What contingencies are offered? Is the offer financially acceptable?
  10. Accept, reject, or counter the offer. But don’t forget, that upon rejection or countering the offer, the previous offer is now void.
  11. Accept an offer. Now you prepare for inspections and contingencies. Typical inspections are for the whole home, gas line, well, lead, radon, and termites. If problems are found, buyers will ask for solutions. Be prepared to negotiate.
  12. Prepare for your move. Pack up your belongings by room so they are easy to place in your new home.
  13. Notify your sphere of your change of address. In addition changing the address for your bills and accounts, you’ll want to transfer utilities, hire a moving company, and prepare to say goodbye to the old neighborhood.
  14. Close the sale, sign in a million blanks, initial a dozen more, and take your check to the bank!

If you’re looking for more detailed information on selling a house in central Ohio, don’t miss the Ultimate Guide to Selling a Home in Columbus, Ohio.