Being Prepared to Negotiate When Selling Your Home

Part of Selling Your Home For Dummies Cheat Sheet (Australian Edition)

When you get an offer from a buyer that may be much lower than you would like, reply courteously letting the buyer know that you’ve done your homework and that you’re expecting a price a little closer to your listing price. Be prepared to drop around 5 per cent from your hoped for price — but take guidance from your agent about the demand from buyers thus far.

In an auction sale, if the property is passed in at a price lower than you like, have some negotiating points ready to offer the under-bidder. Can they offer you a better price if you volunteer a longer settlement period for instance, or if you leave the collection of large, potted palms behind?