Negotiate like a pro with these top strategies

Selling a house isn’t just about putting up a "For Sale" sign and waiting for the offers to roll in. It’s about getting the best possible deal, and that means knowing how to negotiate.

Even if you're a season seller or it's your first time selling a house in Houston, mastering negotiations can make a huge difference in your final sale price. 

In this blog post, let's take a look at some top real estate negotiations tips to help you do it like a pro!

Know Your Market

Before you even think about negotiating, take the time to understand the current real estate market.

Ask yourself, is it a buyer’s market, where buyers have the upper hand? Or is it a seller’s market, where you hold the power?

You see, in a seller's market, homes are truly in high demand and short supply. This means that you can afford to be a bit more aggressive with your negotiations. On the other hand, in a buyer's market, you sure need to be more flexible. 

Research similar homes in your area, also known as comparables, or “comps.” Look at what they sold for, how long they were on the market, and how close their selling price was to the asking price. 

Price Your Home Correctly

If you price your home too high, you might scare off potential buyers. Price it too low, and you could leave money on the table. The trick is to find that sweet spot that attracts buyers and gives you room to negotiate.

Consider pricing your home slightly below market value. This strategy can create a bidding war, where multiple buyers drive up the price. Homes priced just 10% below market value often receive up to 75% more views online, according to a study by Realtor.com.

But if you're not comfortable doing that, checking in with a prime real estate company can help you do price your home right. 

Keep Your Emotions in Check

When it comes to negotiations, keeping your emotions in check is crucial. Selling a home can be an emotional process—after all, it’s where you’ve made memories. However, when it comes to negotiation, emotions have no place.

Buyers might make lowball offers, nitpick during the inspection, or ask for seemingly unreasonable concessions. It’s important to stay calm, be professional, and not take things personally.

Remember that the buyer is trying to get the best deal for themselves, just like you are. Keep your focus on the end goal: selling your home fast for the best possible price. 

Be Prepared to Counteroffer

Rarely does the first offer come in at your ideal price, so be ready to counteroffer.

This is where the negotiation really begins.

A well-crafted counteroffer shows the buyer that you’re serious about selling but also serious about getting the best deal. Respond to offers quickly and clearly. Outline your terms and be firm but fair.

If the buyer sees that you’re willing to negotiate, they’ll be more likely to meet you halfway. According to the National Association of Realtors (NAR), 65% of sellers who counteroffer successfully close the deal within a month.

Understand the Buyer’s Motivation

Knowing why the buyer is interested in your home can help you tailor your negotiation strategy.

Are they relocating for a job and need to move quickly?

Are they first-time homebuyers who might be a bit nervous?

The more you know about the buyer, the better you can negotiate. Ask your real estate agent to gather as much information as possible about the buyer. 

Be Willing to Compromise

While it’s important to stand your ground, being flexible can often lead to a quicker sale.

Maybe the buyer asks for a closing cost credit or wants you to leave behind that fancy fridge. Being open to small concessions can help you close the deal without sacrificing too much on price.

Make a list of things you’re willing to negotiate on and things that are non-negotiable. This way, you’ll be ready to make decisions quickly when the time comes.

In 2023, 48% of sellers offered some form of concession to buyers, such as covering part of the closing costs or including appliances in the sale, according to the NAR.

Have a Backup Plan

If the negotiations with your first buyer fall through, having another offer lined up can give you leverage.

Even if you don’t have a second offer yet, knowing how you’ll proceed if the deal doesn’t close will help you negotiate with confidence. Don’t be afraid to keep showing your home until the contract is signed.

This can put gentle pressure on the buyer to move quickly and agree to your terms. It’s like having a safety net—except instead of catching you, it’s catching dollars.

Use a Skilled Real Estate Agent

A seasoned agent knows the Houston real estatemarket, understands buyer psychology, and has the experience to guide you through the process. Plus, they can act as a buffer between you and the buyer, which can help keep emotions in check.

Choose an agent with a strong track record in your area.

Sellers who work with experienced agents typically get 6% more for their homes than those who go it alone, according to HomeLight.

Conclusion

Negotiating the sale of your home doesn’t have to be daunting. By knowing your market, pricing your home correctly, and staying cool under pressure, you can negotiate like a pro and walk away with a deal you’re proud of. It’s all about balance—standing firm on what matters most while being flexible where you can. With these real estate negotiation tips, you’ll be well-equipped to handle any offer that comes your way. So, take a deep breath, put on your best poker face, and get ready to close the deal!