Step 5 - Negotiate the Offer
First, it is best to know exactly what your objectives are before you get to the negotiating process. Look at what you expect to make after all of the fees, inspections, etc. Consider what your bottom line is on the price and determine the supporting reasons for not going below that price. A good realtor will be a great person to bounce this price off of to see if it is truly realistic in the current market. Being honest with yourself and your realtor from the beginning will help you determine your pricing focus throughout the negotiation process.
Once you've received your offer, your agent's experience really shows its true colors. Listen to your agent's professional opinion regarding pricing and the offer. Keep in mind that most buyers will want to negotiate, regardless of how well your home is priced. Don't take the original offer personally if it is glaringly below your asking price. Remember that, in the end, this is a business matter for all parties involved.
When you work with a member of The North Woods Group, you will always have all the details of the offer explained to you, and we will always advocate your interests during the negotiation process to the buyer and their agent, and provide you with our objective and professional opinion. The entire North Woods Group is an additional source of counsel, should the situation require it.