The Insider's Guide To Selling Your Home By Owner- Rocio Fausto I | Page 49

Let’s explore your options, and then you can choose which
is best for you.

Negotiation Technique #1:
The typical negotiating approach.
You are probably familiar with the way most people
approach the buying and selling process. The home is put on the
market, and when an interested buyer comes by, they make an
offer to the homeowner.
Typically, the homeowner will then make a counter offer,
which can be accepted or rejected by the bidder. Sometimes this
back and forth can go on for a while. There are both pros and cons
to this particular situation.

Pros
One positive to the typical negotiating method is that the
transaction is fairly straightforward and easy to understand.
It makes the seller seem flexible and willing to work with
the buyer’s needs. It’s a bang, bang, boom sort of situation, and
everybody knows exactly what’s going on.
This strategy can work quite well for folks who are willing
to take lower offers to simply be rid of a home. It’s a pretty
straight forward process; well, as much as any home purchasing
transaction can be straight forward.

Cons
A serious negative to this approach is that once you begin
this back and forth negotiating tactic, your home is off of the
market until the deal is either sealed or discarded. Let me put it in
perspective for you.
Let’s just theorize that Sally Sue, who checked out your
home last week, calls with a much higher bidding price five
minutes after you make a counter offer to your current bidder.
You are now legally bound to put Madame Sue on hold until
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