Negotiate the right price
3 min.
The value of a property can be determined. However, it is difficult to enforce this price in negotiations with prospective buyers without the right know-how. What is the better strategy? Set the price high for more negotiating leeway? Or is it smarter to set the price lower and trust that the interested parties will outbid each other? Many years of experience and skill are required to achieve the desired result in price negotiations. A professional estate agent is therefore the ideal support when selling a house.
What are you negotiating about?
In order to be able to negotiate a price, you first need to know how much your property is worth. Experts recommend having the value of the property determined professionally. Only then will you have a secure basis for negotiation on which you can confidently defend your price.
However, you should not use the determined value as a basis for negotiation. Instead, think about a suitable pricing strategy. Setting the price higher to give you more room for negotiation is often not a good idea. This strategy usually doesn't work. Instead, demand is reduced and the property becomes a slow seller. If you then lower the price, many prospective buyers will notice, because anyone looking for a property in a particular location will be watching the relevant advertisements very closely. However, a property that has been on offer for a long time but is getting cheaper and cheaper makes most prospective buyers skeptical.
With the current high demand on the real estate market, it sometimes makes more sense to choose an asking price that is lower than the determined value. This will encourage various potential buyers to bid. Another option would be to set a price for your property that is fairly close to the market value or even just below it. With this approach, the negotiation period is usually short, buyers decide on your property more quickly and in the end both sides are satisfied with the sales price.
How do you negotiate?
When negotiating the price, it is important to be well prepared. You know exactly what your property is worth and what you can ask for it. Prospective buyers often mention defects and try to negotiate the price down. For this reason, it is important for you to be aware of all defects and to deal with them openly. After all, if the value of your property has been determined professionally, any defects will already have been factored into the asking price. From this point, it is easier to defend the price. However, if you have little negotiating experience and are not sufficiently familiar with the current situation on the real estate market, it is often difficult not to be thrown off course by persistent questions from potential buyers.
A professional estate agent, on the other hand, knows exactly how to behave in a price negotiation thanks to his many years of experience. They know all the buyers' tricks and can use their in-depth knowledge of the market to refute their attempts to push the price down. In addition, most real estate sellers have far too little time in their everyday lives to prepare thoroughly for the negotiation so that nothing goes wrong.
Are you still unsure about the best negotiation strategy for your property? Contact us without any obligation! We will be happy to advise you.
You need further information:
https://de.wikipedia.org/wiki/Immobilienmarkt
Legal notice: This article does not constitute tax or legal advice in individual cases. Please consult a lawyer and/or tax advisor to clarify the facts of your specific individual case.
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