Monday, November 11, 2019 / by Gianfranco
Seller Secret Episode #22 Deadlines Create A Serious Disadvantage
You don’t want to dig your own grave…Don’t give the buyer leverage when selling your home.
Deadlines create a serious disadvantage for the seller. We don't even like the word deadline. It just puts that pressure.
It almost sounds negative, like "oh my god, I have a deadline!" Like you have to rush to get your home sold, and who wants to rush to get a house sold. You want to do it right; you don't want to do it in a rushed manner, right?
Even if you do, you never want to disclose that information. You want to play it a different way.
Don't try to sell it at a certain date. This adds unnecessary stress and unnecessary pressure and it can cause a serious disadvantage for you when you're trying to negotiate the price, because when it comes down to negotiation, it becomes more about the date than about the price.
So, when you're thinking about selling your home, think about the timelines, work with your agent, understand the days-on-market, understand what it's going to take, the timelines, how long is it going to take for your house to get ready to go on the market. A realistic time frame of when it's going to get sold and a realistic time frame for having to move out.
And this will put your mind at ease a little bit, and when it comes to negotiating, it will help you negotiate, not just the date, but also the price. You're more open.
Just like if you were the buyer, right? If you walked into a negotiation and you wanted to buy a house, and the seller told you they really need to move out, they need to close on a certain date, they need to move out on a certain day, because they don't even need to tell you because, but let's just say they tell you, "Because we bought another house and if we don't sell this house, then we have to pay a big penalty to the other seller, so it's very important for us."
And you'll be like, "Okay, great. Now that you're telling me this, I can use this to my advantage." So, you don't need to really tell these buyers specifically why you need it that day, just letting them know you need that day alone, puts you at a disadvantage in negotiations, and some agents may not necessarily understand this and may cost the seller thousands of dollars.
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Watch the full video here: https://youtu.be/4UA2Hws8tFQ