Price is one obvious area on the contract to negotiate over. There are four other areas that need an expert negotiator to achieve the best results for your client’s interests. I want to share two examples of the two areas with you.
Positioning your house on the market well not only helps your house attract buyers and also can help you to get to the closing table on time. For every listing that I take, I prepare a detailed comparative market analysis. This comparative market analysis is an important skill that takes training with appraisers and an experienced mentor. Online computer-based estimates do not account for any updates, upgraded features, or other improvements that have been added to the house. The comparative market analysis is important not only to benefit the house to position it competitively but also to help buyers’ mortgage underwriting so sellers can close on their house sales. If a buyer’s financial appraisal does not match their contract offer price, then either the sellers will have to reduce the price or else the buyer will need to come up with extra money or the sale fail. When I get calls from appraisers to meet about my listing, I always prepare a professional folder for the appraisers that includes sold listings of comparable properties that I use for suggesting the home price. The folder includes a list of updates and upgrades provided by the seller. This list also helps the appraisers gain a full picture of the home’s value beyond simple factors such as square footage. I have also gotten calls from my clients to help them to prepare appraisal packages for their refinance.
Inspection items can be tiresome to Sellers too. Because the State of Colorado does not license inspectors, there are a variety of qualities when it comes to inspection services. A good listing realtor will help sellers navigate through the inspection report instead of letting the sellers figure out what they need to do. I have helped several sellers not fix anything because the items are not major health and safety concerns. And as a result, the sellers saved more money in their pockets. I also addressed concerns about the roof replacement and helped the seller find a licensed roofer to get the roof replaced and inspected again right on time for closing.
There are more details about how negotiation skills are important in house buying and selling transactions. When you are looking for a professional realtor to help you, look for one with Real Estate Negotiation Expert (National Realtor Association endorsed) and Certified Negotiation Expert designations to be sure you have a trusted advisor to go through the real estate journey with you.