Once your home is on the market, it won’t take long until offers start rolling in - and when they do, you’ll need help negotiating the best price from your buyers.
Help is at hand with our guide to negotiating your property sale. Coming up, we’ll share what you should - and shouldn’t - do to secure the best outcome for your sale.
What to do when negotiating your home's selling price
Make sure your home is sale ready
Presenting your home well will help you achieve a better price so make sure you’ve got around to those home improvement jobs before putting it on the market. Remember, any imperfections will give your buyer an excuse to offer under asking.
Related: House-selling checklist: Is your home ready to be sold?
Familiarise yourself with the market
It's good to know what’s going on in the property market. Expert advice will steer you in the right direction and offer you a clear picture of what your home would sell comfortably for in your current local market.
Get in touch for expert advice
Understand the true value of your home
It’s important that you fully appreciate the current value of your home. After all, there are many factors that affect how much your home is worth - from current market conditions to the local amenities on your doorstep. A thorough in-person valuation ensures this is correct from the start.
Related: What to ask your estate agent at a valuation
Place yourself in your buyer’s shoes
You should understand your buyer’s position in the market. If they are first-time buyers, it’s likely they will move quickly. If not, how serious and how quickly can they move? Are they already in touch with a solicitor?
Use the answers to these questions to better inform your responses to them. For instance, if your buyer were willing to move quickly, would you accept an under asking price offer from them?
Remain positive in the face of criticism
Although it’s perfectly normal to feel a little sensitive to critical comments regarding your home, t’s important to remain positive while being realistic about the genuine factors affecting its price.
Communication is key
A successful sale is largely dependent on great communication. To simplify the negotiation of your home’s sale, just speak regularly with your agent. Their experience, combined with your objectives, is the perfect formula for success.
What not to do when negotiating your home's selling price
Don’t rush – it could lead to a slower sale
Spend a little time processing the offers as you receive. Remember, the terms of the offer may be as important to your move than the offer itself so it’s important to take the time to consider it all. Speak to your agent about it and listen carefully to their advice.
Don’t be single-minded
With the right guidance, you will hopefully receive multiple offers for your home. Not considering other offers from buyers could mean you forgo a better opportunity in terms of price or time scales.
Don’t forget to make your home sale-ready
Get around to all of those odd jobs before you put your home on the market. Even inexpensive cosmetic changes - like a fresh coat of paint or tidying up the front garden - can make a world of difference to your buyer’s offer.
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Don’t forget to tell buyers about other offers
You should gauge your potential buyer’s level of interest in your home by letting them know about any other offers on the table as and when they come in. If they’re serious about buying your home, they may be willing to change the terms of their offer or even increase it to stave off any competition.
Don’t hide any significant issues
Concealing any costly surprises from your buyer that may appear in a survey could lead to a lower offer being made on your home. If this happens, your agent will be there to support you, but it’s better to be honest in the first place.
Don’t allow your emotions to take over
Moving home is an emotional experience. You will feel excited and sad at the same time. Swap worry for reassurance by having a plan that’s helpful and based on insightful and measured advice from your agent.
