How smart negotiation can add thousands to your sale price.
Most sellers believe the main job of an agent is to find a buyer. The reality is that the real value often comes in the negotiation between the first offer and the final figure. This article explains how that stage should work and what you have a right to expect from your agent.
An agent who simply passes on offers is not negotiating. They are acting as a messenger. You are paying for someone to manage the entire conversation intelligently so that the buyer stretches as far as they reasonably can.
Understanding the buyer’s position
Before an agent can negotiate well they need to understand the buyer properly.
Key points include:
- Funding source and whether there is a related sale
- Maximum budget and flexibility
- Timescale for moving
- Level of attachment to your specific home
Ask your agent what they know about each buyer before you respond to an offer. If they do not know much, they have not asked the right questions.
Starting offers are rarely final
First offers are almost always starting points. As a seller it is easy to feel offended by a figure that feels low. A good agent will encourage you to remain calm while they test how far the buyer is willing to move.
This might include:
- Asking the buyer to justify their offer with evidence
- Explaining your expectations based on interest and comparable sales
- Suggesting a counter offer that keeps the conversation alive
Often the gap between first offer and final deal is significant. That difference can dwarfs any small saving you might have made on fee.
Using competition ethically
If you have more than one interested buyer, your agent must handle the process fairly. At the same time, managed competition is one of the strongest tools for securing the best price.
Common approaches are:
- Inviting best and final offers by a certain time
- Having clear rules that apply to everyone
- Providing updates without revealing exact figures from other parties
Ask your agent how they intend to manage multiple offers so you are comfortable with the plan.
Knowing when to say yes
Negotiation is not about squeezing every last pound at any cost. The best outcome is a strong price from a buyer who is committed and able to proceed.
Consider:
- Is the offer within your realistic range
- Is the buyer in a good position
- Does the timescale work for your onward plans
A skilled agent will talk you through the overall strength of the offer, not just the number. At Keys & Lee we encourage sellers to look at the whole picture before making a decision.
Staying in control emotionally
Negotiation on your own home is emotional. You may feel insulted, worried or excited, sometimes all in one day. That is normal. Your agent’s role is to keep a clear head and protect your interests.
If you want an agent who can explain exactly how they negotiate between first offer and final price, book a market appraisal and we will show you how we approach every offer.
Make sure you follow Keys & Lee on Instagram, Facebook and YouTube for regular content and information for homebuyers and sellers in Romford.
07969 638349
duncan.kaye@keysandlee.co.uk
