Listing Homes for Sale Whitehorse? Negotiate With These Tips

Listing homes for sale Whitehorse could be a favourable decision given the spring/summer market. With the Canadian real estate climate finally starting to ease, many experts assure that now is a good time to get started on your real estate goals. This is especially true for sellers, thanks to the increasing number of buyers actively looking for new homes. In the latter half of 2024, the market anticipates that 41% of regions in Canada will experience balanced market conditions. At the same time, another fifth will favour buyers. So, as a seller, how can you make the most out of your home sale? In this article, I will go through some top negotiating strategies to ensure that you get the best deal possible. Follow along below to learn more.

Negotiating Tips to Help You Sell Homes for Sale Whitehorse

If you want an advantage over your competitors when selling, consider hiring a REALTOR®. While it’s possible to sell your home successfully without the help of an agent, their expertise can come in handy. For example, when negotiating offers from buyers. A REALTOR® has plenty of experience in this area and can help you navigate the process more effectively. They will be able to coach you through understanding what is a good offer and how to make an appropriate counteroffer if needed.

With offers in mind, another tip that you should consider is avoiding accepting the first offer presented to you. Experts caution against this, as it could prevent you from getting the most out of your investment. If a buyer offers a number below the asking value, it’s generally good to have some back-and-forth to see if you can’t get a better offer. To do this, you can either A) make a counteroffer, or B) request that the buyer makes a new offer. Doing so will either signal to the buyer that you are firm on your price or that you are willing to engage in a negotiation to close the sale.

For those who choose to allow the buyer to make a counteroffer, it’s best practice to include an expiration date. Doing so will force the buyer to speed up their offer and make a choice. Be sure to set the expiration date for the offer at a reasonable time. You don’t want to buyer to feel too rushed, but you also don’t want to give them too much time to reconsider. Generally, counter offers expire in 48 hours. However, depending on the conditions of the market they can expire anywhere from 24-72 hours after.

Other Tips to Keep in Mind

If you want the most negotiation power, having any unfinished home repairs completed before listing day is crucial. However, sometimes, it can be better to offload some of these repairs to the buyer and lower the sale price instead. What you choose to do depends largely on how quickly you need to sell your home and what your financial situation is. Having a home inspection done can help you assess what repairs should be finished before listing and which ones can be left alone. For repairs that need to be completed, it is best to do them yourself if possible so that you make the most ROI.

As you prepare for negotiation, it is equally important to consider what power a buyer may have over you. Common leverage points for buyers include their ability to walk away from the deal, their financial strength, their level of interest in your property compared to others, and the current market conditions. Buyers can also leverage any issues or flaws they find with your property to negotiate a lower price or ask for concessions. Similarly, they can utilize your urgency to sell to get a discounted price. Understanding these potential leverage points can help you anticipate their tactics and negotiate more effectively.

As a seller, you’ll also want to think about whether or not you want to pay for closing costs in the sale of your home. These costs can be paid by the buyer or seller and can total up to 4% of the purchase price. As a seller, you have the freedom to choose not to pay for the closing costs. However, this can sometimes be a deal breaker for buyers who are already strapped for cash. An alternative would be to pay for the closing costs but raise the purchase price.

Contact me Today About Homes for Sale Whitehorse!

Negotiating is a large part of a successful real estate transaction. If you’re interested in learning more about how to negotiate effectively to sell homes for sale Whitehorse contact me today. I’d be happy to help answer any questions you have about buying/selling a home. If you have any further inquiries about real estate in the area, please feel free to reach out to me! Be sure to check out my blog again next month for more exciting real estate content. I look forward to working with you in the near future!