How to approach negotiation - whether you're buying or selling your house.
When you think about putting your property on the market, or buying a new home, going into a negotiation process might seem a bit daunting. But it doesn’t have to be. In fact, with Hiizzy, negotiations can be more like a conversation - a chance to find a way forward that’s beneficial for everyone.
With the right approach and mindset, securing the right deal for you is entirely within reach. Here are seven key strategies designed to guide you smoothly through the process whether you're buying or selling. Good luck!
1. Understand how much the property is worth
The first step in the negotiation process is a clear understanding the property's market value. If you're selling your home, Hiizzy’s data tools will show you a range of recent house sales in your area, so you can set a realistic asking price. Buyers should research local market trends to make informed offers. An accurate understanding of a property's value is an ideal first step in any successful negotiation.
2. Be prepared
Whether it's getting pre-approved for a mortgage if you're buying a home, to making sure your property is market-ready if you're selling, it helps to be ready to make the next big move. Being prepared signals your seriousness and commitment, strengthening your position whether you're a buyer or a seller.
3. Good communication is key
Find out where the other person is on their home buying or selling journey. For example, is an interested buyer looking to purchase their first home? Are they a cash buyer? If you're interested in a house that's for sale, is the seller in a chain or are they looking to move quickly? Hiizzy’s secure messaging system makes these essential conversations easy, connecting you directly with interested buyers or sellers so that you can have clarity from day one.
4. The power of adding value
Sometimes it’s the little things that seal the deal. Sellers might offer to leave a piece of furniture that a buyer expressed interest in, or make repairs or touch up the paint before moving day. If you're a buyer, are you able to accommodate the seller's timelines or conditions? These gestures can often smooth negotiations, and ensure that you reach an agreement that everyone's comfortable with.
5. The advantage of being chain-free
Being able to be flexible with your moving timeline can be a negotiating strength for both buyers and sellers. Sellers not in a chain may attract buyers with the promise of a straightforward process. Buyers who are chain-free, or can move quickly present a less risky option to sellers, making the whole process smoother and faster.
6. Understanding surveys
Property surveys are a standard step for buyers, and there're there to help to reveal any potential issues that could lead to renegotiations of the purchase price. For sellers, this is your chance to show you're open to finding fair solutions. Hiizzy's transparent property marketplace has been designed to encourage direct dialogue, making it easier for everyone to find a middle ground that feels right.
7. Successful negotiation approaches
Expect counteroffers, they’re just a natural part of property negotiation. Whether you're setting a purchase price or making an offer, keeping things realistic is the aim. The key is to sidestep any emotional hurdles and keep focused on the ultimate goal; a deal that everyone's happy with.
Here are a few tips to help keep negotiations smooth for both buyers and sellers.
● Avoid reacting quickly. Take time to think things through.
● Listen to the other side's needs and concerns - it goes a long way.
● Keep open communication.
● Be clear about your price limits, and limit negotiations to this number.
● Consider the local market to gauge your offer or asking price.
● Keep a positive attitude. A little optimism never hurts.
Considering an offer
Not all offers will meet your expectations. Hiizzy equips you with the tools and insights to help you weigh your options wisely. Be flexible and try to take the emotion out of the decision when negotiating a sale price.
And remember, even when surveys are being carried out and negotiations are taking place, nothing is legally binding until contracts are exchanged. So there's always room for thoughtful choices.
At Hiizzy we want to help make sure your next chapter begins on the right note. That’s why our marketplace has been designed to put control back in your hands. Whether you're passing on your keys or picking up new ones, at Hiizzy, we aim to help you feel supported and empowered through the process. Every negotiation is a step towards an exciting new beginning, for everyone.