What Agents Do - Guide Number 7 - Offers

03 Jul 2015

Good negotiation is a skill that adds real value to the service you receive from your estate agent. After all it can be the make or break of a sale.

Many agents focus on “getting the maximum price” for their client, the property vendor. So do we. However, we also recognize that the vendor’s main objective is actually to move house. There is no point in losing a sale by trying to force an unreasonably high figure out of a buyer who might have otherwise bought the property. Or to agree a sale only to find the buyer later regrets it and pulls out. They might even proceed right up to the point of exchange and then reduce their offer (known as gazundering) leaving you forced to accept the reduction or lose not only your sale but possibly your purchase as well!

Please don’t be alarmed! These are worst case scenarios, but not unheard of. The point is that good negotiation is being able to understand the objectives of buyer and seller alike and seeking to achieve the highest realistic figure for the seller with due regard to all parties concerned.

This does not just mean bartering, with each party nudging up or down respectively until some middle line is met. It means your agent using every available resource to justify your price in the context of current market conditions. It also means understanding the buyer’s perspective, their needs, preferences, finances and their flexibility in compromising over certain issues.  

We are proud not only of the prices our well-trained negotiators are able to secure for our clients, but also of our very low fall-through rate, which we attribute significantly to ensuring that the right deal is struck from day one, with both parties feeling they have “won”.

If you’d like to take advantage of our negotiating skills we’d love the opportunity to advise on your sale. Please call us today on 0191 510 3323 for a free appraisal.