Negotiating An Offer
This is where a competent and experienced Estate Agent is invaluable. It is true that the Estate Agent will not be paid unless a sale completes but a professional Estate Agent will want to earn their fee and an established independent Agent will know that the goodwill of his business is built on recommendations from clients such as you!
A decent Estate Agent should have assessed a prospective buyer before any viewings take place. Accordingly they should be in possession of information such as why the viewer is moving, whether they have a dependent sale and importantly, what financial resources the buyer has available (deposit, mortgage, etc).
An opening “offer” may well be negotiable and consider:-
- How long has your property been on the market and how many viewings/offers have you received. Value is ultimately only what a willing buyer is prepared to pay.
- If the offer is less than you had hoped for, consider whether the market is falling or stable. Delay in a falling market may simply exacerbate the problem.
- If you are hoping to buy another property you may be able to negotiate a keen price once you have a buyer of your own in place.
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