Our Real Estate Blog
As a home seller, it is essential to do everything possible to promote your house to the right groups of property buyers. However, as you approach the finish line of a home sale, you may encounter a "persistent" homebuyer. And if this happens, the home selling process may come to a screeching halt.
A persistent homebuyer may be more likely than others to demand home improvements or a price reduction to finalize a house sale. As a result, you may need to decide whether to accommodate this homebuyer's requests, continue to negotiate with him or her or walk away from a potential home sale altogether.
So what does it take to deal with a persistent homebuyer? Here are three tips to help you do just that.
1. Understand the Housing Market
Are a homebuyer's requests valid? If so, they are likely to be based on housing market data. Therefore, if you analyze the housing market closely, you can better understand a persistent homebuyer's demands and proceed accordingly.
Take a look at the prices of comparable houses in your city or town. By doing so, you can determine how your house's price rates against the competition.
Also, don't forget to assess the prices of recently sold homes in your area. This housing market data will help you understand the demand for houses in your city or town and determine whether you're operating in a seller's or buyer's market.
2. Stand Your Ground
A persistent homebuyer may be in a hurry to purchase your house. As such, he or she may push you to make rash decisions that may not be in your best interest.
For home sellers, it is important to take a step back and evaluate all aspects of any home selling decisions. And if you feel uncomfortable with a homebuyer's requests, you should feel comfortable walking away from a possible home sale.
Ultimately, declining a homebuyer's requests and walking away from a home sale is far from ideal. On the other hand, doing so will allow you to reenter the housing market and restart the home selling journey with a fresh perspective.
3. Consult with a Real Estate Agent
If you're unsure about how to deal with a persistent homebuyer, you're probably not alone. Lucky for you, real estate agents are available nationwide to help you handle tough negotiations with any homebuyer, at any time.
A real estate agent understands the art of negotiation and can share his or her housing market expertise with you. That way, you can get the support you need to make informed decisions at each stage of the home selling journey.
Perhaps best of all, a real estate agent will respond to your home selling queries as the property selling journey progresses. No question is too big or too small for a real estate agent, and this housing market professional is happy to answer your home selling questions time and time again.
Take the guesswork out of dealing with a persistent homebuyer – use these tips, and you can boost your chances of getting the best results from the home selling journey.