Negotiating Skills In The Current Market
Trusting the process
Negotiation is the way forward in the current market.
Take this recent success story from agents Cara & Dee from our Cromwell office.
In this case, the negotiations weren’t with a potential buyer, but with the vendor themselves.
The property had been on the market at $705,000 since early March with minimal interest and only one low offer. Cara & Dee knew they had to had to have a difficult conversation with their vendor because the market was telling them the vendor’s expectation was out of kilter with the property’s perceived value.
Taking a collaborative approach to their marketing, they got the Cromwell team together and reviewed the property, with everyone in agreement it was priced too high.
“We had to be brave and tell our vendor the hard truth – the price was just too high. No one wants to hear that but unfortunately sometimes it’s the way it is,” says Dee.
“We worked with them to come up with new scripts and a reduced price of $685,000.
“We got in touch with the eventual buyer with the ‘reduced by’ price and got the whole deal sown up in two days with the property selling for $665,000
The deal could have stalled but discussions and negotiations lead to a successful sale and happy vendor.
“At the end of the day we have a happy vendor who has acknowledged that the price they got is accurate and they’ve been able to move on,” says Cara.
Cromwell sales manager Tim Harris is delighted with Cara & Dee’s hard work and their commitment to creating a solution to suit all parties.
“You can trust us to get you a result, you can trust us to tell you the truth (even if you don’t want to hear it), and you trust us to get the maximum price the market will pay right now.”
At Highland Group we pride ourselves on our expert knowledge of the market and our knowledge tells us that negotiation is the key for success.
When choosing to sell with Highland Group you can trust us to get you a result. And in the current market our negotiation skills are coming to the forefront time and time again.