Calling all homebuyers! if you’re planning to put an offer in on a home soon – STOP watch this video FIRST! Today, we’re talking about the #1 way you can lose your negotiating power when buying a home.
And THIS is one that buyers make all the time. Ready for it? Here it is: letting the seller know that you’re willing to pay (basically) anything to get the home. Now you probably wouldn’t ever tell the seller something like that to their face. But what happens when you’re touring an amazing home with your agent and you’re in love? Then, you step outside and you’re so excited. You tell your agent that you’d do just about anything to make this place yours.
No big deal right? Wrong. Most homes now have video doorbells and cameras throughout the house. That means that, although you might think you’re alone with your agent, you could be talking directly to the seller.
If a seller hears you talking about how excited you are about the house, you’re letting them know that they have the upper hand. All of your negotiating power goes out the window, and they’re likely to take advantage of you.
How do you keep your cards close to your chest and maintain your negotiating power? Here are a few tips to keep in mind:
First, stay cool and collected. It’s totally normal to be excited about a home you love, but try to keep your emotions in check during the showing and afterward. Avoid coming off as overly eager and instead keep your poker face on.
Next, keep your budget confidential. It’s between you and your agent. If the seller or their agent gets wind of your max budget, they’ll push for that number until you have nothing left to spend.
You’ll also want to make a strong but sensible offer: Instead of throwing around phrases like “I’ll pay anything,” opt for a well-thought-out offer that’s both competitive and grounded in the market. This shows you mean business without looking desperate.
Lastly, let your agent work their magic. You hired them for a reason, chief among them likely being their skill with real estate negotiations. Make life easier for yourself and leave the communication and negotiation to your real estate agent. They’re a pro with lots of experience and will fight to get you the best deal possible.
The last thing you want to do is lose your edge in negotiations by showing your hand too soon. You can never be too careful in today’s world, so go through showings strategically and keep your cool.
With the right approach, you’ll be well-positioned to snag your dream home at a price that works for you. Ready to get started? Reach out to schedule your buyer consultation today!
https://anitalwilliamson.com/events/I’m Anita L Williamson, Associate Broker with James River Realty Group helping you establish roots in Central Virginia.
