Wednesday, September 19, 2012

Tips for negotiating price on your Millburn-Short Hills, NJ home

There are many components to selling your Millburn-Short Hills, NJ home. You have to choose a listing price, find the right real estate professional, advertise, stage the house, and more. Today I will focus on negotiating price. As you surely already know, people don't buy and sell houses the way they go grocery shopping. The list price is very rarely what the actual house ends up selling for. That is why being savvy about negotiating the price on your Millburn-Short Hills, NJ home can help you sell your house more quickly and for more money.

Here are tips for negotiating price on your Millburn-Short Hills, NJ home:

Choose the right listing price
The negotiations start based on your listing price so you definitely want to make sure you choose the best price for your house. You want it to be somewhat higher than what you are willing to accept because you will almost certainly end up negotiating down. Still, you don't want it to be so high that people don't come view the house. A professional can help you with your listing price.

Don't forget to use forward pricing
When choosing the listing price for your Millburn-Short Hills, NJ home, you will most likely look at similar houses that have sold recently nearby. Do not forget to use forward pricing! That means if the market value of homes has gone up 5% over the past few months since that house you're basing your price off of was sold, you need to adjust accordingly. Not forward pricing can cost you thousands.

Don't ignore low offers
Some sellers will become insulted by a low ball offer and refuse to negotiate with the potential buyer further. Don't do that! Buyers are just trying to get the best deal they can. Even if someone's first offer is ridiculously low, it doesn't necessarily mean they won't be willing to negotiate upward into a range that you find acceptable.

Let a professional handle it
When it comes to the actual back and forth negotiating, let a professional handle it. A real estate professional with years of experience will be much better at negotiating. Also, a professional does not have emotions wrapped up in the property and can treat it as purely business, which is usually for the best.

If you have any questions about selling your Millburn-Short Hills, NJ home, do not hesitate to contact me.

Elaine Pruzon
Coldwell Banker Residential Brokerage
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