Before negotiating, it pays to have a strategy such as a plan of attack or set of guidelines to keep you focused.
Have you considered why you are asking the price you are, and the answer if asked? Have you considered what you will do if there is more than one interested party? Will you take the best offer or give the other party a right of reply?
Here are some points to consider:
If asked about your sale price, what will you say? How much or how little you disclose is up to you, but it’s a good idea to have a sound reason why your property is priced higher than a similar one up the road.
How low will you go? Are you willing to go below your asking price? If so, by how much? Consider your absolute lowest price before entering negotiations.
How long do you wish the settlement period to be – 30, 60, 90 days? Longer? Why?
What if you receive your target price in the first few days? Will you take it or will you wait? How long is the offer good for? What will you say to the people making the offer?
If you have offers from two interested parties, what do you do? Go with the best or give the other party a chance to counter? Will you tell the other party you have an offer? Will you go with the highest offer if it is subject to finance, or the lower that has the funds?