Negotiation Tips for Selling Your Home in Newcastle-upon-Tyne

Selling your home in Newcastle or any other place for that matter can be a tough experience. It often boils down to a tug of war between the seller and the buyer each trying to maximize profit. Having a solid negotiation strategy in place from before you list your house can make a world of difference between a winning deal and a lousy one.

Learn of all the tactics a buyer might employ against you and stay prepared for all. When negotiation time comes, you will be able to disarm them while blazing your guns. In today’s post, we shall discuss some handy negotiation tips that can give you an edge over the buyers.

Negotiation Tips for Selling Your Home in Newcastle

Inspection is Better than Retrospection:

It is always wise to get your house inspected professionally before listing it. There is a high chance that your buyer would use a professional inspection service as well. Anything you miss shall come up in the negotiation and will be deducted as repair costs. Not only that, once you have proclaimed your house to be pristine, you do not want to be in that awkward position where the buyer unearths a bunch of issues. It is better to spend a few hundred pounds on inspection rather than counting your losses later.

Don’t Take Decisions Under Pressure:

Your Newcastle house is perhaps the most valuable asset in your possession. Hence, you should never let it go for less than it’s worth. It helps to set a lower limit on the price from the get-go and do not accept any offers below that price. Be especially beware of low-ballers. If you do not get many offers, your house could be priced too high. In that case, get the help of a professional appraiser to ascertain its correct value. If you have set an attractive price and still see no bite, it could be due to external financial situations or other reasons. In that case, always be prepared with “BATNA”.

Best Alternative to a Negotiated Agreement (BATNA):

If you are having trouble selling your home in Newcastle, your BATNA should be ready as a backup. Either put the property up for rent to make some money or postpone selling for a while. Research on why there are not enough buyers. With proper research and corrective actions, you can put our property out on the market again, this time to sell at the price you had earlier set.

Make it Exciting for the Buyer:

If you are facilitating the sell yourself, it is easy to connect with the buyers and throw in some extra perks to help close the deal. This works especially well with buyers who like the property but are unable to make up their mind. The “extra” you offer does not have to be costly, it can be something fun like a Merry-go-round” in the lawn, some furniture, a quality sofa set and so on. This gesture shows the buyer that you are ready to go that extra mile for them. Sometimes, a gif coupon or small items can also work the same magic.

A Bidding War Always Helps the Seller:

If you are getting a lot of offers or expect to get several, it makes perfect sense to announce a set date and time when you will be reviewing offers. This creates a bidding scenario where buyers will be pit against each other. Not only do the buyers push the price higher but the whole event also creates a stir attracting more attention. But this strategy only works if your property is likely to get a lot of offers.

Walk a Mile in the Buyer’s Shoes:

Knowing and learning about the buyer can go a long way in closing a sweet deal. Learn about their financial conditions, what is the maximum they can pay, why they are moving, what they look for in a house, etc. Knowing these facts helps you showcase the benefits your house will bring to them. You also get a better idea of how much you can expect to get from the buyers. Creating a camaraderie with them will allow for a smooth deal. If the buyers like you, they may not mind paying a few thousands extra!

A ferocious bargain is a part and parcel of selling a house and it helps to stay prepared from the beginning. Armed with these tips and a nice property, selling your home in Newcastle can be profitable and easy at the same time.

If you are selling your Newcastle home or planning to, we can help! Call us on 0191 486 2386 or send us a message to receive professional negotiation power in your corner!