Buyer vs. Seller: Does it have to be a battle?

Buyers and Sellers want different things out of a home sale. It helps to understand both points of view when negotiating…if you can understand the other point of view, you can offer something they want in order to get something you need. Bargaining and negotiating doesn’t have to be a battle…

A Real Estate Buyer Wants:

  • The very lowest price possible
  • My new home to have all the features I’ve dreamed about
  • A home in move-in condition, with no extra work required
  • Everything to be updated and in perfect working order
  • To earn incredible equity
  • I want this house to be the best investment I can make

A Real Estate Seller Wants:

  • The highest price I can get
  • Recognition that our house is the best in the neighborhood, it’s worth more
  • To not invest in costly fixes for someone else’s enjoyment
  • Recognition that no home is perfect, it has been lived in and loved.
  • The Buyer to pay if he wants new items (carpet, appliances, countertops, windows)
  • To recoup every penny they invested into maintaining and updating their home
  • To earn incredible equity; I want this house to be the best investment I’ve made

No party to a negotiation gets everything they want in the deal. The key is to understand the other person’s point of view so you can negotiate a deal both parties can live with. A Buyer should use comparable houses that have recently sold in the neighborhood on which to base their offer, not wishful thinking that is so far under the asking price that it insults the Seller. Sellers should be willing to consider making repairs or improvements that are meaningful to the Buyer…or offer to lower the price to accommodate the Buyer making the changes himself. A good deal, a fair deal, will leave both parties feeling like they got the best price possible, and the most important concessions in the deal for their needs. Buying and Selling a home CAN be a win/win!

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  1. […] was recently reading an article by Pat Williams on her blog “Real Estate Tourist” which highlighted the how the requirements of buyers and sellers  are normally […]