Sometimes you just have to offer a compromise in real estate negotiations – don’t take it personal
When I sold my beloved and personal home in April 2010 – I was MORTIFIED at my first offer and couldn’t sleep – AND was ready to strangle the Realtor who brought me the offer. The next morning I went to the office and vented about my crappy offer to my colleagues.
Precious Sue Ann looked me straight in the eyes and said, “You are complaining about a cash offer and you’re only $15,000 apart? Lori, you KNOW better – go WORK that offer.”
Yes, I had to hear that advice from a trusted co-worker – one who works beside me in the trenches on a daily basis.
So, I took MANY deep breaths and tried to review the offer as a REALTOR – not a home-owner and Seller who put so much love, blood, sweat and tears into my dream home. Like most Sellers, I had added what I paid for my HOME and added the cost of improvements I had made, although you can never put a price on the hours of love that went into landscaping.
After a calming down period, I called the Buyer’s Realtor back and offered a counter, which the Buyer accepted. Here I was ready to REJECT his insulting offer and we wound up only a few thousand dollars below my list price by the end of the day.
Seriously, real estate is all about compromise, cool heads and non-emotional negotiations. Don’t let your first knee-jerk reaction kill your deal – it’s likely that your first offer is your best offer. Remain calm and work it out, because you want to sell your home and someone wants to buy it. It can turn out to be a win-win situation.
I almost think every Realtor needs to sell a home that’s close to their heart periodically – just to keep in touch with what our Tulsa home sellers go through. That experience taught me a valuable lesson, and I’m now more prone to offer options and compromises, which makes ME a better Realtor!