We get many questions from home buyers about the negotiating process. We are starting a series about what to expect during negotiations to give buyers a realistic picture of what it will be like.
For example, is it realistic for you to plan to purchase a home for 20% less than the listing price? Can you expect to negotiate more off the list price during a weak market?
Overall, most homes sell within 2-5% of their asking price. In other words, most home buyers can expect to negotiate about 2-5% off the listing price of a home. Over the next few weeks, we’ll take a look at some really interesting data compiled by one of the Colorado Exclusive Buyer’s Agents Associations buyers agents to understand more about this pattern, and address some of the home buyers common questions like:
1) The real estate market has been struggling, so I should expect home sellers to accept really low offers, right?
2) Why do most homes sell for so close to the list price?
3) How do things like how long the home has been on the market and the economy affect negotiating real estate?
4) What are the potential pitfalls of low offers?
And finally, for our beginner investors:
4) What to expect during fix and flips?
The goal of our buyers agents is to help you find and purchase the perfect home for you, at the best price possible. An important part of this is providing expert advice to you through the negotiation process ensuring that you get the best deal for you. Equally important, our agents are able to help you set realistic goals and expectations throughout the home buying process. This will not only help you save time and headache, but it ensures that you understand what kind of investment you are making & what kind of deal you are getting.