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Washington DC Real Estate Tips
Washington DC Tips
Michele Buckman has put together some videos discussing the current DC market and what the future may hold for the real estate market in the Washington DC area.
Selling a Washington DC Home: 9 Pricing and Negotiation Tips
If you are considering selling a Washington DC home, these home pricing and negotiating tips could help you and Realtor get top dollar for your property. (Hint: It's all about getting what you want, while letting the buyer feel that they've won.)
- Understand what homes in your neighborhood will be selling for next year – that’s called “forward pricing.” (Michelle Buckman will be able to tell you the increase or decrease in neighborhood home prices.) For example, let’s say that home prices in your neighborhood are increasing 10% annually, and the last comparable home sold six months ago for $600,000, then yours should be priced at $630,000.
- Price your home a little on the high side. Aiming high gives you some negotiating room, and you might just get that high number. You’ll also be able to come down a little, and that allows the buyer to feel like they’ve won.
- Once the offers start coming in, stay behind the scenes, and let your Realtor handle the negotiations.
- Don’t dismiss low-ball offers out of hand – you’ll want to counter that offer, coming down slightly on your price to get the negotiations started. Usually, the person with the low-ball offer will make a more reasonable offer back. If not, you’ve lost nothing.
- Remember: it’s just business. You want the most for your home, and the buyer wants to pay the least for it. The worst thing that can happen in a negotiation is that you take things personally.
- Keep the negotiations going; successful Realtors know that the longer you can keep someone at the negotiating table, the more likely you’re going to come to a conclusion that’s satisfactory to you.
- Don’t split the difference; you’re being too generous, and you’re leaving money on the table.
- Be prepared to walk away from the negotiations if you can’t get what you want.
- When you’re close to closing the deal – but it seems like things are lagging – give a small concession. The other side may need to feel that they’ve won the negotiation, so throwing them a small win can seal the larger victory – selling your Washington DC home.
For more information and tips on selling your Washington DC area home, contact Buckman Realtor. Specializing in real estate in the Cleveland Park, Chevy Chase and Northwest DC areas, the real estate professionals at Buckman Realtor will help you sell your Washington DC home, for the best price possible.