Arriving at a satisfactory sale price is something that home buyers and sellers both struggle with. Our real estate agents want to make sure you sell your home at a price that everybody's happy with. One of the best ways to get the right price for your house is to fine-tune your negotiating skills. 

The Art of Negotiation

Luckily, we are still very much in a seller's market, which means homes are a hot commodity, and likely to fetch a higher price than they might have just a few years ago. That being said, the buyer still has a lot of power, including the greatest power of all—to simply walk away.

Negotiating is a give-and-take process, which only works if the buyer and seller can both come away from the experience feeling satisfied. It requires you to be flexible on some points, while never allowing yourself to be taken advantage of. Keep a few things in mind as you negotiate the sale price of your home:

• Gain the trust of the buyer. Nothing turns a buyer off faster than giving them the impression that you can't be trusted. First and foremost, it's always best to be honest and straightforward and show a willingness to cooperate.
• Understand the stakes. You and the buyer are probably negotiation one of the biggest financial transactions of your lives. It's important to keep that in mind and understand the buyer's perspective.
• Consider all factors. There's more to negotiating than arriving at a final sale price on the house. Be sure to keep other factors in mind—home inspections and repairs, financing contingencies, timing the closing—and consider them all as you evaluate a buyer's offer.
• Know the market. How you negotiate depends partly on the state of the housing market. In a seller's market, you can play hardball a little more. For example, if a buyer makes a low offer below your asking price, you can counter with your asking price rather than an in-between compromise. But in a buyer's market, you may have to be a little more flexible.

Avoid These Tactics

Even in a seller's market, there are certain negotiation tactics that can backfire if you're not careful. If you're trying to sell your home, avoid these strategies—or at least, use them with caution.

• Starting a bidding war: A bidding war over your home might sound like a dream scenario, but there's a risk that the prospective buyers will assume the worst, and you could end up watching your best offer walk away.
• Haggling over repairs: If a buyer has your home inspected and comes back with a laundry list of repairs, choose your next move carefully. Refusing to make legitimate repairs may cause the buyer to feel they're being taken advantage of, and it could blow the whole deal.
• Being too stubborn about the closing date: Buyers and sellers each have scheduling needs that don't always perfectly align. If they need to move in on a certain date, be as flexible as you can.
• Refusing to pay closing costs: It's not uncommon for the buyer to ask the seller to cover their closing costs. Before you refuse, keep in mind that it's a small price to pay compared to the overall price you're getting for your house.

Before listing your Las Vegas home for sale , make sure you're working with a listing agent who can get you the best price. To learn more, contact Wardley Real Estate. We offer years of experience in the local real estate market, and can help you get the price you deserve for your home.