How to Negotiate in a Seller's Market

by Barbara Rybicki 12/14/2020

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It's easy to believe you don't have much leverage if you're getting ready to buy in a seller's market. Unfortunately, that sense of frustration can result in desperation, which can ultimately lead to overpaying on a home. Before you accept your fate, consider how you may have more power than you think.

Start Strong

Being an early bird in a seller's market is a must, and this is especially true if you run up against a unique situation. For example, let's say a homeowner gets a particularly lucrative job offer. The only catch is that they need to move overseas in just a few weeks. In this case, a seller is going to be motivated by more than just the best offer. They want to see a buyer who can be flexible with their move-in date. If you can speed up the process, you can get the leverage in a seller's market.

Prove Your Reliability

The seller will always look for someone with extremely reliable funding sources because no one wants to deal with the hassle of a lender pulling out at the last minute. When you're negotiating, it doesn't hurt to point out that you're a sure bet in more ways than one. This can encourage a seller to accept less than what they would have received if they'd accepted an offer from someone with a weaker financial history.

Anticipate the Worst

While you do have some degree of control here, you should also be ready for equally prepared competition. Study the terms of the seller to ensure that your offer is made on time and your conditions are stated upfront. Make sure all your supplemental paperwork is airtight and ready to be processed. You can also consider limiting the number of contingencies you have. In a buyer's market, you can ask for the seller to update the plumbing or dismantle the shed. But in a seller's market, you might want to hold back some of your requests.

Watch Your Back

Buyers may need to be more accommodating to sellers if they want to secure a home in a certain neighborhood, but there needs to be boundaries on bending too far backward. There are still money pits out there, even in prime seller's markets. Unsafe structures, dangerous grounds, and changing zoning laws can all be overlooked by an eager buyer in the heat of the moment. That's why it's so important to strike the right balance.

When it comes to negotiating in any market, a real estate agent is usually the best place to start to hone in on the right tactics. They make it easier to spot the properties and sellers who deserve the effort.

Seller

Sellers Market

About the Author

Barbara Rybicki

I am originally from Poland but have been a Grafton resident for almost thirty years.

I come from the Hospitality Business. I used to work in 5 Star Marriott Hotel Management. That experience taught me how to provide excellent customer service. That "Marriott" way of doing business instilled in me over the years helps me tremendously to succeed as a local real estate broker.

Nothing is more exciting to me than gratifying feeling I get from helping people reach their real estate needs and dreams. You can count on me to always do what is in your best interest. I will be there for you throughout the entire transaction making sure you understand each step of the buying or selling process. I will guide you with great communication skills and hard work ethic.

I have not only passion for my job but also extensive real estate expertise. Whether it is preparing and staging your home to sell for top dollar or helping you purchase a perfect home, feel free to reach out to me so we can start this process together.

I specialize in marketing and selling residential real estate in Grafton, Upton, Northborough, Westborough, Southborough, Shrewsbury, Milford, Hopkinton and Metro West area.