The beginning of negotiations is usually the end of many months of hard work for the buyer or seller. The work ahead requires skill in order to maintain a strong position.
Sellers can lose their advantage if they do not counter an offer that a buyer has made. Even if the opening offer is beneath what the seller feels is reasonable, it is advisable for the seller to respond with a slight reduction from the asking price. The most important component in negotiating is good communication.
The best way to handle a low offer is to counter it with definite terms that are favorable to the seller. A counter offer has two advantages: 1) it keeps the buyer interested, and 2) it moves the negotiation forward and gives the buyer the opportunity to submit another offer that the seller is more likely to prefer.
Deborah Herridge Keller Williams Towne Square Realty 55 Madison Avenue Suite 400 Morristown, NJ 07960 Direct: 201 400 2980 Office: 973 539 1120 Fax: 201 299 4819 Deborah@TheHerridgeGroup.com
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