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We love helping real estate buyers to find the perfect Lowcountry property. What we love even more are the ways in which we can help my clients buy the home at the very best price with the very best terms. Sometimes negotiations are not all about price. The right contract can involve other seller concessions that create the right deal for my buyer clients.
Real estate market data – In order to make an offer, you need to have a fairly good understanding of the market. We spend a great amount of time and effort in collecting market data to help my buyers in their price negotiations. This data involves not only sold property prices by neighborhood, but also current listing pricing to determine the competitive nature of the market.
This data is very thorough, and it is called a Comparative (or Competitive) Market Analysis - or CMA. There are two parts - the comparison of the property you are considering to similar properties recently sold in the nearby area. This gives us a firm grip on what has happened in the past six months. We then do another CMA process on the currently listed properties most like the one under consideration and in the same neighborhood or nearby. This gives us a current market snapshot so that we can adjust our valuation model and my offer to reflect the current market situation.
Thorough knowledge of your situation – Only through constant communication I can advise you properly in pricing negotiations. By understanding your motivations and financial capabilities, we can help you craft a price negotiation strategy with the highest probability of success.
It is not all about the money – There are a lot of ways to negotiate a real estate deal, and they do not always involve money. Perhaps the seller does not have a lot of ability to work with you on price, but they can make other concessions that could result in a deal. We will help you to take the best approach.
It’s not over until it is over – Many real estate price negotiations involve possible multiple offers, counter offers and a lot of back–and–forth. We are with you with each counter offer to adjust your negotiation strategy accordingly. Because we cannot know the seller’s financial limitations in many deals, some buyers are elated when they cut a major low-priced deal on a home, but then after inspections they hit a brick wall in negotiations with the seller related to repairs. The negotiation to purchase a home is not over with the price on the contract, and it is best to know that a real deal at the front end could result in less flexibility after inspections in the repairs discussion.
The thing to remember is that we are with our clients throughout the negotiation process with the latest information and experienced advice.