Negotiation

The art of negotiation involves preparation, and the skillful extraction of information from buyers and their agents, gaining leverage to use in bargaining, reaching an agreement, and getting it in writing. This process is one of our greatest strengths, and the reason for some of our record-breaking sales.

Accept, reject or counter?

After thoroughly analyzing and discussing an offer we can take one of three options available to us:

1. Accept an offer without any changes

2. Decline the offer, if we are simply too far apart

3. Counterproposal with newly-negotiated terms

A counterproposal would be used when:

We determine that the buyer may be willing to go higher

A buyer uses an escalation clause to raise their price silently, in order to beat another competing offer

You have other conditions that the buyer has not met in their offer, such as a different closing date or a rent-back

It's often advisable for the seller's agent and the buyer's agent to discuss their clients' needs and attempt to reach terms and present them to each party. Be careful not to lose a good offer over relatively minor concessions. You may not get everything you were looking for, but be judicious about which terms are most important. This takes time and can be stressful, but it's crucial to getting the maximum.

Agreement

Once an offer is accepted you will sign either the Contract To Buy And Sell (if you accept the offer as written), or a Counterproposal, which becomes part of the offer contract. Once both parties have signed, your home is now 'Under Contract'. This stage, also known as the escrow and due diligence period, is where inspections, appraisals, and all other conditions are addressed and satisfied