Source: Houselogic —
Here’s the dream: Your offer is perfect, you don’t need to negotiate, and you can spend the next few weeks addressing more pressing home ownership questions like, “Why is it called wainscoting?” and “Do I want a new couch in blush or emerald green?”
And it could happen. Many sellers accept the best offer they receive, for a variety of reasons.
But sellers are also known to reject offers for a variety of reasons. Or make counteroffers. This is especially likely if you bid low or you’re up against multiple competing offers.
If you do receive a counteroffer, you’ll need to decide whether you want to accept the new contract, negotiate the terms, or walk away.
In cases like these, look to your agent. They are your spirit guide. If you decide you want to negotiate — that is, make a counteroffer to the seller’s counteroffer — your agent will use their negotiating skills to help get you the best deal. This is what agents do every day.
But you’re not just going to sit there. If you understand what negotiating tactics your agent may deploy — they depend on the local market and your position — you can back them up. And cheer them on.
Here are eight rules every buyer should know before they — and their agent — start negotiating:
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