Ulster County Real Estate Blog

head_left_image

6 Common Home Seller Mistakes To Avoid In Ulster County NY - #6 - Poor Agent Negotiations

6 Common Home Seller Mistakes To Avoid In Ulster County NY - #6 - Poor Agent Negotiations6 Common Home Seller Mistakes To Avoid In Ulster County NY - #6 - Poor Agent Negotiations

One of THE biggest mistakes a seller can make is hiring an agent who is a poor negotiator. Whether it be a single offer or a multiple offer situation, buyer or seller side, negotiations are one of the critical components in getting the best deal for the client. Many average and frustrated agents today need to sell a home more than the homeowner! It is imperative that the seller determine if the agent they want to hire has experience negotiating. Poor negotiating can cost a seller 3-5% or more at the closing table! We at Taft Street Realty felt the need to discuss negotiating in detail so that home owners looking to sell are aware of where things can go wrong.

At the beginning of our series we discussed Mistake #1 - Hiring the Wrong Agent, Mistake #2 - Repeating Failed Strategies, and Mistake #3 - Not Enough Exposure. Then we followed up with Mistake #4 - Not Enough Focus On Other Agents and THEIR Buyers and Mistake #5 - Not Enough Qualified Buyer Showings. Now Taft Street Realty concludes this series with 6 Common Home Seller Mistakes To Avoid In Ulster County NY - #6 - Poor Agent Negotiations. Here are some things sellers should keep in mind...

Ulster County NY Expert Real Estate advisorHire an Ulster County Expert Real Estate Advisor - We're local experts when it comes to homes for sale in Ulster County NY. We also know the art of making a deal and negotiating in today's difficult buyer's market. Negotiating a good deal takes great skill. The majority of the negotiations for the seller take place BEFORE the offer evens comes in. That statement may have you scratching your head wondering how that's possible but it's true. If you read our earlier real estate seller mistakes made in Ulster County NY you will see that the correct marketing to attract buyers is one very important piece to the negotiating puzzle. As Ulster County NY expert real estate advisors, we know that the more qualified buyers we can get in the door and interested in the property, the more likely that multiple offers might come in. Having multiple buyers interested at the same time immediately ups your negotiating leverage for a seller as their agent, even before any offers are presented.

Proper Positioning of the Seller's Home in the Market Place - It is key for the agent to have a non-emotional state of mind. As we mentioned above, if the seller hires an agent who has only sold one home so far that year and is desperate to pay their bills next month, then it is likely that the agent will be giving advice that may be skewed or biased based on the agent's needs more so than the needs of the seller. Another factor in positioning is how the agent talks about the home to other agents. Setting the proper expectations is another key area of negotiating. The seller's agent must exercise restraint and control in the agent to agent talks. One slip up revealing the motivations and timing of the seller could cost that seller thousands of dollars. Loose lips sink ships, remember that! Another very important consideration for the expert negotiator is the delicate extraction of good buyer Intel during agent to agents discussions. At Taft Street Realty, we are trained to pick up on important buyer hot buttons, emotional indicators, etc.

Ulster County NY Real EstateDon't Forget the Negotiations AFTER the negotiations - Keep in mind that in today's challenging real estate market getting the deal together is just the beginning. A true expert negotiator will plan and prepare the seller for the hurdles and obstacles that come after the initial deal is put together. Probably the # 1 reason why most deals fall apart is because of the home inspection process. Many buyers (even their agent) do not realize the true condition of the home when they first look at it. Often times home inspectors in Ulster County NY will report findings that cause the buyer to want to re-negotiate the price. Many buyers agents tend to easily give up key buyer info just by asking the right questions at the right time. Many buyer's agents use the inspection as another convenient "opportunity" to beat the seller up and the price down. Negotiating for the seller in this instance is critical. Obviously one of the seller's goals is to keep the deal together and get to the closing table but, at the same time, the seller needs protection from losing his or her shirt. 
 
managing buyer expectations in Ulster County NY real estateManaging Buyer Expectations - At Taft Street Realty we manage buyer expectations up front in a very careful way. The proper handling of the inspection, both before and after, will be a huge task but one that saves the seller a ton of money if handled correctly. For example, if the roof is at the end of its life and the seller knows it, it may be something to very casually throw out there to the other agent at just the right time so that it is known ahead of time and therefore not used by the buyer post inspection to re-negotiate the price. Again, careful consideration is the key here. We obviously don't raise buyer concern for no reason but as the negotiating experts in Ulster County NY we are always on the look out for our sellers so that they are protected and shielded against bottom feeding, low balling, out for blood buyers and also the sneaky "rope a dope" buyers agents who think they can take advantage of sellers. Not OUR sellers!
 
Taft Street Realty Ulster County NYWe hope you found our series, 6 Common Home Seller Mistakes To Avoid In Ulster County NY, to be helpful and informative! Stay tuned for our next series giving tips to buyers interested in Ulster County NY real estate. Brought to you, as always, by your friends at Taft Street Realty!


See our very own Ulster County Living Video below!


 

 If you enjoyed reading this post please consider subscribing to my blog here!    

 

Ulster County NY Real Estate - Top Rated Ulster County Blog - Ulster County NY Home Search

                 

        Reviews of Dylan Taft         

  

Dylan Taft                                         
NYS Licensed
Principal Broker/Owner
Taft Street Realty, Inc.
845.687.9292 o
845.380.3394 m
866.355.7996 f

Comment balloon 0 commentsDylan Taft • November 27 2012 10:13AM
6 Common Home Seller Mistakes To Avoid In Ulster County NY - #6 -…
share
6 Common Home Seller Mistakes To Avoid In Ulster County NY - #6 - Poor Agent Negotiations One of THE biggest mistakes a seller can make is hiring an agent who is a poor negotiator. Whether it be a single offer or a multiple offer situation,… more
6 Common Home Seller Mistakes To Avoid In Ulster County NY - #5 - Not…
share
6 Common Home Seller Mistakes To Avoid In Ulster County NY - #5 - Not Enough Qualified Buyer Showings The Internet today has transformed the way buyers look for homes for sale in Ulster County NY which can present new challenges for… more
6 Common Home Seller Mistakes To Avoid In Ulster County NY - #4 - Not…
share
6 Common Home Seller Mistakes To Avoid In Ulster County NY - #4 - Not Enough Focus On Other Agents and THEIR Buyers Whatever your reasons may be for selling your home, you probably know that Ulster County NY real estate has drastically… more
6 Common Home Seller Mistakes To Avoid In Ulster County NY - #3 Not…
share
6 Common Home Seller Mistakes To Avoid In Ulster County NY - #3 Not Enough Exposure Planning on selling your home? Real estate in Ulster County NY is not the same industry it was say, 6-7 years ago. Gone are the days when putting your home on… more
6 Common Home Seller Mistakes To Avoid In Ulster County NY - #2…
share
6 Common Home Seller Mistakes To Avoid In Ulster County NY - #2 Repeating Failed Strategies If you are considering putting your home on the market, be aware that real estate in Ulster County NY is not the same type of market that it was years… more
6 Common Home Seller Mistakes To Avoid In Ulster County NY - #1…
share
6 Common Home Seller Mistakes To Avoid In Ulster County NY - #1 Hiring The Wrong Agent Say you've decided to sell your Ulster County NY home. Perhaps you're relocating for work, upgrading, or downsizing. Whatever your reasons are for selling… more
4 Reasons To Sell Your Ulster County NY Now
share
If you're planning on selling your Ulster County NY home but think you should wait until the winter season has passed, or perhaps until the market improves, you may want to think twice. There are real estate market opportunities happening currently… more
Positioning Your Ulster County NY Home For Market - 5 Seller Tips
share
If you're planning on placing your home on the Ulster County NY real estate market, you'll want to do everything you can in order to help it sell. These days selling a home can be challenging, so why not stack the odds in your favor a bit? Here are… more
Personalized Ulster County NY Home Selling Strategy
share
Personalized Ulster County NY Home Selling Strategy If your Ulster County NY home hasn't sold yet this summer don't worry, you're not the only one. It may be that your property is not positioned right in the market. Putting your home up for… more
How to Sell in Today's Real Estate Market - The Right Marketing, Who…
share
Earlier, we brought you Selling Your Home in Today's Market: Is Pricing it Right Really That Important? There, we talked about the importance of pricing a home right from the beginning, and why the right price early on will get the seller the most… more