Property Negotiation

Negotiating the Property Sale

When selling a property through private treaty, you will need to negotiate a selling price with prospective purchasers. Whilst you want to get the best possible sale price for your property, the prospective buyer is looking to purchase at the lowest possible price.

Here are some considerations to help you through the negotiation process.

Firstly, start with a fair price as overpricing your property will only drive interest away. Asking prices should be based on recent sale prices of comparable homes in your local area

It is also important to review and understand your position. Do you need to sell quickly, or do you have time on your side? Is buyer demand in your area strong and have you had a lot of interest in your property? Depending on your position you can adjust your negotiation approach.

Put yourself in the buyer's shoes, by understanding the perspective of the buyer you will be able to negotiate from a stronger position. For example, a prospective buyer may be willing to pay a little more should they need to move urgently and you can fulfill a quicker settlement.

It is also important to be prepared to compromise in order to achieve a win-win situation for both parties.

As a seller, you are likely to have an emotional attachment to the property you are selling which can impact your judgment and negotiation tactics. Working with an experienced real estate agent who is skilled in negotiation and has a strong knowledge of your local market can be one of the best ways you can maximise your sale price. They can lead the negation process and provide crucial information to help you make informed decisions that ultimately lead you to achieve the most favourable outcome.

At Century 21 our agents are experienced negotiators and local market experts. Contact your local office to find out how they can help you achieve the best sale price for your property.