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Selling Your House During A Pandemic Series Video 5 - #brokermac
April 22, 2020 at 8:10am | Mac Rogers
started this video series of selling your home during a pandemic or after a pandemic with a video on safety. Then we talked about the exterior of the home, then it was tactics or marketing, then inside the home. Now we go into negotiations.
This is Mac with Albert Rogers Realty here in Castro Valley, CA.
After an event like a pandemic, terrorist attack, recession, whatever is going on the goal is the same if you are thinking of selling your home. That is you want to make sure you get top dollar for your house. This video series is for you. Watch just
one or watch them all. Our aim is to get you ready when the time comes to sell.
After being in business for 18 years and negotiating a fair number of contracts, I can say with confidence that I know what would move the needle during negotiations.
Here's one that splits agents right in the middle. The first offer is usually the best offer. Here's my response to this. It is market dependent, depends on the offer and depends on you the seller.
Let's unpack this a little bit. In our current market climate if you get an offer for your property right now and that buyer is a solid buyer, most likely I would be advising you to consider. Last year, I will tell you to wait.
Also it depends on the offer, if the offer was too good to past on, then it would make sense to accept. I'm talking about price, terms etc.
What about time frames? Always tighten up time frames and contingencies if possible. This puts more pressure on everyone but at least you can adjust when needed.
Deposits is another area where you can get a gauge of the buyers motivation and financial viability. While it doesn't really matter in the end, always get a higher deposit initially so that the buyer has more skin in the game.
Negotiation around valuation. This was problematic when prices kept on rising. You get offers way above asking but then when appraisal becomes an issue you are faced with new negotiations and just over all feeling that you lost out on something.
Now more than ever, setting the right value for your home could mean staying on the market or getting showings and being sold in your time frame.
Digging deeper and doing background research on the buyer. Getting their pre-approval and proof of funds is just the start. Talking to their lender and making sure that the lender has underwritten their clients is a must. I was once a mortgage broker
so I know when a loan officer is not only experienced but I also know by their responses if they have a full picture of their clients. In other words, I know what questions to ask.
Listen, I can go on for hours about all of the things that you as a seller need to be concerned about when negotiating and countering offers. We will make sure that you see the whole picture so that when we negotiate your decisions are based on facts
and not emotions.