1) React without thinking!
Good, bad, or indifferent, an offer, no matter how low, is not the time to chastise the other agent or give a hypothetical overhyped reaction from the seller who has not yet seen it.
Buyers, you never know what might be in sellers’ heads. The worst thing an agent can do is create any expectation of how that offer will be received and the response.
2. Make assumptions and posture
Avoid making statements such as “There is no way the seller will even entertain that,” “You’ll need to come back with something much stronger,” or “I cannot bring that to the seller.”
Agents are legally and ethically obligated to present all offers unless the seller has instructed the agent in writing to handle offers below a specific price point, etc.
Even so, the agent should avoid informing the seller of the offer because circumstances change, time marches on, and the market—not the listing agent—dictates what it is willing to pay for any home for sale.
3. Act as the decision-maker
Nothing is worse than when one agent tries to get the other agent to agree about what their buyers or sellers will do before they can relay and present the information.
They also want to dictate everything else in the transaction before anything is agreed to. This type of agent’ loves being the bully, trying to intimidate and using strong-arm tactics to bend things their way.
4. Be offensive – arrogant
Please don’t say anything that could offend the other agent or their buyers or sellers.
Statements such as, “The property has been on the market so long, there must be something wrong with it — that’s why the buyers came in where they did with their offer.”
Or, “The buyer saw what the seller paid for the home just two years ago, are sure deal killers!.”
5. Shut it down
Nothing is worse than entering into a negotiation in good faith where the sellers barely counter, the buyers start to get discouraged, yet make a decent counter or two—and the seller refuses to do anything else.
Keep the communication going – your commission check depends on it!
6. Be the messenger
A surefire way not to negotiate is to play messenger, relaying whatever the buyer or seller says without any input or effort to facilitate a response that will work toward closing the gap with the other party.
Buyers and sellers want to be led to good decisions.
They might not recognize it until it’s offered, but repeating buyers’ or sellers’ sentiments might not make sense as it only alienates the other party.
7. Forget problem-solving and creativity
Many transactions never come to fruition because the agents refuse to work together to bridge the gap between the buyers’ and sellers’ wants and needs.
There are multiple ways to accomplish this regarding an agreeable purchase price relative to the closing date, closing costs, interest rate buydowns, and things that could be included or excluded with the home purchase, such as a home warranty and professional cleaning.
Keeping emotion and posturing out of the negotiation with the buyer and seller will help to position it objectively and work toward a set of mutually agreeable terms and conditions.
8. Serve as an armchair expert
Speculating about all that is allegedly wrong with the property is a great way to start building walls during a negotiation.
The selling agent knows that the roof is old and will need to be replaced, the electrical system is terrible, and there appears to be a foundation issue.
While some or all of this might be true on some level, it’s best left to the experts to determine during inspections and then broach the seller with tangible findings from the due diligence process.
Conversely, a listing agent attempting to minimize any potential issues visible or documented from inspections does not help the situation.
9. Be vague
When parties are vague, doubt creeps in.
When one agent’s response to another agent’s questions regarding information on the seller’s disclosure, or lack thereof, is unclear or continually avoided, it can create a sick feeling of wondering what the sellers and listing agent may be trying to hide.
That doubt can lead to negotiations stalling until the buyer and the selling agent conduct their own investigations to determine what they need to know.
10. Squeeze out every last drop
There is nothing worse than finally settling everything and then one party insisting on trying to squeeze the other for a few more things.
11. Make “One Last Change”
To the above point, once all gets worked out, the seller insists on changing the closing date because they realized they wouldn’t be in town for the closing.
Newsflash: Are sellers ever in town for a closing anymore, let alone buyers?
The sellers certainly have the option to pre-sign, but the sellers refuse because they don’t trust anyone or anything, never mind that this is not their first rodeo selling a property.
This one can wreak havoc, as the buyer explained through their agent that they would not be available to close until the closing date, which is why it was requested upfront.
The lender has made it clear that it cannot guarantee the closing date will be a week sooner, and while the seller might hear this, I’m not sure they are listening.
Perpetual pushback about a closing date can wreak havoc on all involved, especially when external circumstances can’t be changed and agents are not working to get everyone to compromise.
Cara Ameer is a broker associate and global luxury agent with Coldwell Banker Vanguard Realty in Ponte Vedra Beach, Florida. You can follow her on Facebook or Twitter.
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