There is always another house and another buyer.

Real estate negotiations are ordinary in that they are not complicated. With exceptions, a typical transaction includes someone trying to pressure someone into fearing a loss. Either the buyer agent tells the seller the buyer has another property to consider. Or, the seller has other interested buyers. For this strategy to have any effect, the other side needs to participate. And by participate, I mean they have to be afraid of losing.   

Don’t participate, and the other side will stress.  Fear of loss is a great motivator. Being unafraid is a great equalizer. To be fearless, have a plan, and trust your knowledge. Overcoming the threat of loss is as simple as ignoring the suggestion of an impending loss. Trust what you see in the Offer. Buyers rarely write offers first on their second choice homes. They seldom walk away from one house at the sight of the first counter offer. And when they do, it’s reasonable to conclude that their commitment was weak. Getting into a contract with an uncommitted person is less desirable than no offer at all. If you’ve been there, you know. 

You have a plan, and you know what you know. You know what you want to accomplish, and you know what will or won’t work for you. As long as you have an offer in your hands, you are in control. The other party that made the Offer you are considering countering isn’t as committed to getting to closing as you are. If the only way they will get into a contract with you is if you accept their terms, they may be an inch away from dissolution.  

A secure contract with your preferred closing date and terms you can live with is worth trying to get. The Offer in your hand that comes with implications of not-so-committed is nothing to fear. Be committed to yourself. Say thank you for the Offer and let the agent know you appreciate the opportunity. Show no fear. Display no displeasure. You’re in control. Keep it that way. There is always the next buyer. 

Author: Tom Meyer, Owner-Broker, Essential Real Estate, LLC Madison, WI

The real estate transaction, disclosure, and confidentiality are the business of a Wisconsin licensee. It's in the transaction where the skill of the licensee, and their commitment to the law where the public is protected or placed at risk. Essential real estate services are specified in real estate license law. Those services are worth professional fees. Paying professional fee rates for administrative services is a choice when an alternative exists. We are that alternative. Old business model commission rates are taxing the home equity of American home sellers. Essential Real Estate LLC was created so our clients keep more of their home equity, spend less on broker fees, and receive skilled representation in negotiating purchase agreements.

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