Thursday, June 3, 2010

Real Estate Negotiating and Keeping Secrets

Is the home you are selling staged to make someone fall in love with it? What else can you do to make it irresistible?
In  a conversation with Ms. Speedy we learn that the woman who fell in love with our condo last month  -- get this – calls Ms. Speedy almost every day to find out  if the property has been sold to someone else!

My opinion is that being that enamored of a house is not a good state of mind.  As flattered as I am that she likes the way we fixed this property, now that we know how much she loves it (since she was foolish enough to tell the broker who will represent the sellers – us ) we are less likely to accept a lower offer from her.

The lesson here is never to let a listing broker know how emotionally attached you are to a property.  It shows too many of your cards.  If you play them close to the chest, you’ll be in a better negotiating position.

You as a seller, need to hide your cards as well.  It's best if a potential buyer believes you are not desperate or rushed because it could prompt a low ball offer.  Contrary to what some people believe, I believe that a staged home sends a message that you are willing to wait for a buyer.  An empty home looks like the owners have moved on and may be paying for two mortgages, but staging an unoccupied residence indicates that the seller has money and patience to take care of his investment.

A home stager makes a house lovable.  You can be your own DIY home stager because you already know your home's most lovable qualities. 

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