How to negotiate house price: A seller's guide

by Mina Kuper 11/20/2022

two people with paperwork

The home selling process can involve varied house prices, which makes it crucial to learn how to negotiate those prices. As a seller, you want to get the best deal possible, even if not in a seller's market. If a buyer offers less than the original asking price, it's time for negotiation strategy.

Working with a real estate agent, here are some tips for negotiating a selling price:

Always use market value as your starting point

The market value of your home is the actual amount a buyer is willing to pay in context of the current market. In a buyer's market, a seller may need offers below the present cost of the property in order for a house to sell. If the price is too much higher than market value, offers may be too low to be accepted.

Keep your list of upgrades handy

Buyers often raise concerns about features or details of a property in an attempt to negotiate lower prices. Therefore, it's important to counter with the positives to their negatives. One great idea is to emphasize any upgrades or improvements to the home that might outweigh a buyer's misgivings.

Know the housing market

Knowing the market value of your home is just one piece of the puzzle. Understanding the trends of the overall real estate market in the area you're trying to sell in is essential. 

Real estate agents can help you choose the best price with comparative marketing analysis, or CMA. This type of report gathers data on market behavior regarding asking price, purchase price and the likelihood of multiple offers.

Negotiate from a win/win perspective

Negotiating isn't necessarily win or lose. If you approach your price negotiation from the perspective that everyone can win, you're likely to be more successful. Addressing buyers' concerns and interests with a collaborative, positive outlook can win you a higher home price, even if the initial offer is lacking.

inforgaphic about negotiating home price

Negotiation can seem intimidating, but real estate professionals are there to help you. Using these guidelines, you can ensure you get the highest possible amount for your home sale, no matter what offers you receive.

About the Author
Author

Mina Kuper

Growing up in New York Mina Kuper had dreams of owning real estate, but never thought she might actually become a respected leader in the real estate industry someday. You cannot always predict where or when you will discover what you are meant to do in life!  

Mina was taught at an early age that if you want something in life, you have to work for it. Her parents came from Eastern Europe and had to learn how to excel to help others. She followed their example, making a point of working hard at everything she did.   

Never wavering in her resolve to become the best version of herself with each career move, she worked her way up from launching a Rental Department in a startup Real Estate office to becoming a successful New York Real Estate Broker. In 2001, she moved to Los Angeles where she became a California Real Estate Agent. Mina is also a licensed real estate agent in Arizona.

As her career advanced, Mina found her stride working with multiunit, commercial,1031 exchange, and single-family properties, divorcing couples, trusts, and probate real estate – In addition, she has earned a Certification in Trust and Probate Real Estate and completed speaking engagements on Negotiation at area law schools. Her expertise in all these areas has not only set her apart from other agents but has also proven to be a real benefit for her clients. Mina donates a portion of her proceeds to animals and children causes. They don’t have a voice but she does. 

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