Assess the value of your property correctly and negotiate successfully
Knowing the value of a property is one thing. But getting this price accepted in a negotiation is a completely different challenge. Should you set a high price to create room for manoeuvre, or should you set a moderate price so as not to scare off potential buyers? Here you can find out how to develop a successful negotiation strategy.
Step 1: Determine the property value
Before you start negotiating, you should know exactly how much your property is actually worth. A professional valuation by an expert is essential in order to have a realistic and defensible price. This value forms the basis for your pricing strategy.
Step 2: Choose the right pricing strategy
- High price tag: A high starting price creates room for negotiation, but can deter potential buyers and make the offer appear dubious.
- Moderate price: A price just above the real value is perceived as fair, leads to shorter negotiation phases and leaves both parties with a good feeling.
- Attractive entry-level price: A price set slightly below the market value can stimulate bidding processes in which several interested parties drive up the price.
Step 3: Confident in the negotiation
Confidence is crucial in price negotiations. Buyers often seize on known weaknesses in the property to push the price down. Prepare yourself for this by:
- Communicate all shortcomings openly and show that these have already been factored into the pricing.
- Have clear arguments ready for your price, such as market data or comparable properties.
If you lack negotiating experience, it can be difficult to stand firm and respond confidently to persistent questions.
Why a broker may be the better choice
A professional estate agent not only has knowledge of the market, but also the necessary experience to be successful in negotiations. They know how to skilfully approach buyers without reducing the value of your property. They will also prepare you for the negotiation meeting so that you don't have to worry about a thing.
Conclusion: A successful sale with the right strategy
Whether you sell your property on your own or use the support of an estate agent, a well thought-out negotiation strategy is the key to success. With the right approach, you can achieve a fair price and sell your property quickly and stress-free.
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Robert Schüßler
Property valuer (EIA and IHK)
