Should You Try to Negotiate with a Home Seller?

by Gema Smith 01/05/2020

For those who want to buy a home, it generally is a good idea to remain open to negotiating with a seller. That way, you can acquire your dream residence without delay.

Now, let's take a look at three tips to help you streamline a negotiation with a home seller.

1. Be Flexible

There is no telling how a home negotiation will turn out. Fortunately, if you maintain flexibility, you will be able to go with the flow throughout a negotiation with a seller.

Remember, a homebuyer and home seller share a common goal: to ensure a seamless transaction. If you are open to negotiating with a seller, both you and this individual can work together to achieve results that satisfy all parties.

Don't forget to maintain open lines of communication with a seller during a negotiation as well. By doing so, you and a seller can keep in touch with one another throughout a negotiation and avoid potential miscommunications that otherwise could slow down or stop a home purchase.

2. Establish Realistic Expectations

A home negotiation may work out in your favor or a seller's favor. Or, in the best-case scenario, you and a seller will come to terms that fulfill the needs of both sides. On the other hand, in the worst-case scenario, you may need to walk away from a home purchase altogether.

As a homebuyer, it is important to prepare for all possible scenarios. If you establish realistic expectations as you enter a home negotiation, you can plan accordingly. Then, you and a seller can work together to accomplish the optimal results.

You may want to study the housing market closely too. In fact, you can review the prices of available houses that are comparable to the one you want to buy to ensure your offer to purchase falls in line with the current housing market's conditions.

3. Work with a Real Estate Agent

A real estate agent is well-equipped to help you handle a homebuying negotiation. Thus, if you work with a real estate agent, you can get the assistance you need to acquire your dream house at a price that matches your budget.

Typically, a real estate agent will learn about your homebuying goals and help you discover your ideal residence. Once you find a house you want to buy, a real estate agent will help you submit a competitive offer to purchase this home. Next, if a seller wants to negotiate the terms of a home transaction, a real estate agent is ready to negotiate with this individual on your behalf.

A real estate agent also will keep you informed throughout a home negotiation. Plus, if you ever have concerns or questions during the homebuying journey, a real estate agent is prepared to respond to them.

Want to acquire your dream house as quickly as possible? Take advantage of the aforementioned tips, and you should have no trouble handling a home negotiation with any seller, at any time.

About the Author
Author

Gema Smith

Gema S. Smith has been an influential pioneer in the luxury real estate industry for over 30 years. With a reputation for providing first-class service and garnering impeccable results for her clients, Gema’s accomplishments have earned her mentions in San Jose Magazine as well as two State of California Senate Certificates of Recognition. 

Unapologetically persistent, tenacious in her negotiation and passionate about developing genuine trust with her clients, Gema brings her best-in-class service and award-winning approach to The Agency, with a focus on the high-end market of Silicon Valley. Previously, Gema served as a Broker Associate with Intero Real Estate Services in San Jose, where she was a consistent top producer and recognized as a Top Listing and Sales agent for the company’s 15 corporate offices. Knowing that every buyer and seller has their own unique story to tell, Gema is proud to play a role in her clients’ ongoing narrative and represent their best interests in what is often the biggest transaction of their lives. 

Gema has been an active member of the real estate community since 1987, getting her start in the loan business before obtaining her real estate and broker’s licenses. In 2002, she opened a real estate brokerage and loan company which she ran successfully until 2008, when she chose to focus her efforts on real estate sales full-time. Gema is a long-time member of the Santa Clara County Association of Realtors (SCCAOR) and California Association of Realtors (CAR), as well as a Certified REO & SHORT SALE Specialist with The Five Star Institute. She is also a two-time Santa Clara County Chapter President of NHORA (National Hispanic Organization of Real Estate Associates) and currently sits on the NHORA National Board of Directors. 

A passionate philanthropist, Gema sits on the Board of Directors for the Jose Valdes Math Institute. Her commitment and dedication to the advancement of educational opportunities to underserved communities defines her character. In her spare time, Gema enjoys gourmet cooking, entertaining family and friends, wine tasting, reading, jogging and traveling.