Firmer Lines in the Sand?
“What we’ve got here is a failure to communicate.”
–“Cool Hand Luke”
A couple years ago, when you heard a Buyer’s agent characterize their client’s position as “final,” it almost never was.
Today, it seems like the opposite is more common, i.e., Buyers’ agents — especially agents representing first-time Buyers — who present an offer that truly is their client’s best number (or close to it) . . . but don’t inform the other side of that.
Only in retrospect — after the Buyer repeatedly declines to reciprocate even significant concessions by the Seller — does that become apparent.
Result?
No momentum — and no deal.
Misreading the Other Side
Personally, as an agent negotiating a deal, I would always like to at least be told if the other party’s position really is their best number and/or terms.
If they say it is, and it isn’t — i.e., they’re bluffing — you’ll find out soon enough, because they’ll come back with a sweetened offer.
However, if they don’t say it’s their best offer, but it really is . . . suddenly, you have a deal-killing chasm between the two parties.
Got all that??
P.S.: Ultimately, there’s really only one way for a Buyer or Seller to demonstrate that their position is firm: walk away from the table, at least temporarily.
