Navigating the Negotiation Process of Selling your Luxury Home
When selling your home, you of course want to see it reach its full potential! There are many tried and true negotiation strategies in the real estate world, and a good agent will know that there’s a time and place for each of them.
When you’re entering the stage of selling your luxury property, there are so many intricacies to be aware of to make sure you get the most out of your negotiations. Here are just a few to consider…
Finding the Right Agent
First thing’s first: you need to have the best of the best on your side when entering a sale. Your choice in agent is crucial in setting an optimal price, understanding the market, and reaching the right audience. Communication and interpersonal skills are essential in negotiation, and a seasoned agent will be able to leverage their skills to your advantage.
Better yet, finding an agent that’s established within your niche and postcode can assist with your home and sale’s reputation. If your luxury property is located around the Ascot, Hamilton, Albion, or Hendra suburbs – get in touch with the Oliver Jonker team to have the experts behind you.
Nail Your Approach
Preparation is key in a luxury sale. Negotiation requires a lot of composure, patience, and flexibility – so it’s always best to go in with a plan.
Yourself and your agent will be able to devise a strategy that will prepare you for the best outcome, and to have your priorities met. Emotions tend to run high during sales, for both sellers and buyers alike – so it’s best to know when to harness them and use them to your advantage, and when to shift the focus to the logistics.
Showcase Your Property Value
Open houses are your chance to put your best foot forward. Ensure to highlight the home’s custom features, luxury amenities, and design. That way, the property’s unique selling proposition will justify a premium price when entering a negotiation with a buyer.
We’ve got a few tips on what exactly luxury home buyers are looking for, head here to learn more.
Present Counter-Offers
It’s important to recognise that buyers usually enter a sale expecting a bit of back-and-forth debate of price. Of course, you don’t want to sell your home for below what you’re asking, so counter-offering will likely be a tactic that you’ll likely reach for from your negotiation toolbelt.
Your agent will be able to devise a strategy for this – whether it be rejecting lowball offers, shifting to your list price, or compromising on other factors to compensate.
An important part of negotiating the sale price of your home is placing pressure on the potential buyer. When presenting a counter-offer, always enforce an expiration date, to encourage a swift response.
Finding Expert Guidance for Negotiation
Price is just one factor of the negotiation process – you also have closing timelines, contingencies, and terms to consider. Again, the right agent will be with you every step of the way with these complex processes!
If you’re looking to take your home to market, or are just after some friendly advice from your local luxury property experts – be sure to get in touch with the Oliver Jonker team today.