Verbal Negotiating Traps and Pitfalls
Savvy listing agents know how to parry, “Would the Seller consider taking $__?”
Namely, by shooting back, “Is the Buyer offering $___?”
If the answer is “Yes,” they respond, “Great! Put in writing, and I’ll do my best to get a quick, serious response from the Seller.”
If they balk or say “No” . . . you’ve saved everyone some time.
The rationale for such an approach?
By definition, verbal negotiations to buy or sell real estate are non-binding, and Sellers who signal that they would indeed accept a discount from their list price . . . open the door to offers seeking an even bigger discount.
Seller — and Buyer — Signalling
The analogous trap for a Seller would be to engage the Buyer’s agent in a, “So, what would your Buyer be willing to pay?” dialogue.
A given Buyer is willing to pay what a written, executed contract obliges them to pay.
No more, no less.
Fishing for a (non-binding) number telegraphs undue Seller motivation.
P.S.: Some agents believe in using the showing feedback forms to commence negotiations . . . some don’t.
