When it comes to appraising and developing appropriate responses to offers on your Herndon home, I’m there to offer counsel and guidance. Even so, you are the ultimate decision maker. Especially for Herndon homeowners without previous selling experience, becoming familiar with some practical pointers for home selling negotiations is well worth doing. Herndon sellers can find one rich source at the National Association of REALTORS® web site. This month’s World Series finale undoubtedly inspired the title for a list of home selling negotiation pitfalls. Published the morning of Houston’s Game 7 victory, it dealt with errors in home selling negotiations. It was subtitled “Negotiation Hardball Fouls.”
Although the first “foul” was “starting a bidding war,” that was a slight overstatement. Obviously, a bidding war is any Herndon seller’s ideal situation. What was spotlighted was how that situation could be mishandled. One misstep is setting an offer deadline too far in the future because time-pressed buyers might disappear. Another foul ball is passing up an already strong offer that might not reappear.
Another home selling negotiation tactic that Herndon sellers should think twice before adopting is being overly tough when responding to repair requests. That’s similar to “being stubborn” about a host of other relatively minor points like setting the closing date, closing cost payment requests, and squabbling over inclusion list items.
Another tactic that might result in an expensive misfire: threatening to put the property back on the market. The problem here isn’t only the stigma sometimes attached to the “put back on the market” tag. It’s also the fact that interested buyers you’d expect to return might have moved on.
The valuable insight that underlies all of the NAR examples is a guiding principle I believe to be valid for all home selling negotiations. When you are coming down the home stretch (or are in game 7 of the Series), evaluate every aspect of an offer as part of the whole transaction. Individual details that might seem emotionally important lose their clout when viewed in relation to the whole. In other words, as every major (and minor) league batting coach will tell you, if you want to make contact, keep your eye on the ball.
No matter how exciting it might be, any World Series Game 7 is only a game. When it comes to selling your Herndon home, it’s a much more meaningful exercise to the families it will affect for years to come. I keep that in mind during every aspect of your Herndon home’s sale, from the listing’s preparation to the final home selling negotiations. Call me!
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