The Insider's Guide To Selling Your Home By Owner- Rocio Fausto I | Page 45

Don't meet in the middle. Instead, give 10-20% and let the
other guy give 50%. You'll gain a little bit more with each round
of negotiations.

Common Negotiating Mistake #3:
Talking too much.
This is the worst sin of negotiating. Don't tell the buyer's or
their agent your life's story.
What do you think would pop into a buyer's head if they
heard this out of a seller's mouth? "We must sell the home
because it is in foreclosure and if we don't sell it by June 23rd,
then the bank will foreclose on it."
Immediately they will think, "I wonder what they owe on
th e house. Because if it doesn't sell they will have a foreclosure.
The seller's probably just want to get what they owe on the home
so they can avoid foreclosure."
This is an extreme example, but it shows you how a
simple slip of the tongue could cause a seller to lose a large
amount of their hard earned equity.
A seller facing foreclosure in that situation might be
desperate enough to "get out" with none of their equity just to
avoid foreclosure.
But, what if the buyer was willing to pay the market value
for the home? That seller just lost all their equity! When a buyer
asks why you are selling answer them without giving away any
extra information.
You could say, "Oh, we would like to move to Omaha." (Or
whatever place you are moving to.) You don't need to say much
more than that. And don't tell them you have a job transfer!

Common Negotiating Mistake #4:
Making the first move.
Many buyers will ask what your bottom line is. They know
that they can usually negotiate a home seller down to an even
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