NYC Real Estate Negotiation Tips for Sellers

Selling your home in the Big Apple is anything but simple.?

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Especially now that the real estate market is cooling down following the end of pandemic-era buying sprees, you might not get the best possible terms at the negotiating table.?

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Notwithstanding a dearth in the demand for single-family homes, buyers see renting as an inexpensive means to secure a cozy NYC living space.

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Good news for property owners, though. With the median rent reaching record-breaking records and residential sales starting to cool down, we could see buyers flooding back into the market in no time.

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But despite this, you still have to make sure you'd leave through the door with the best deal.

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All it takes is knowing how to know your way around a real estate negotiation. Here's how you can do that:

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Know where the market is heading

Before deciding to sell your home, you will need to do a temp check on the neighborhood you're in. Getting a feel of buyer and seller activity is crucial to knowing if putting your home up for sale next week would yield the best returns.?

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But considering how fast things are going in today's climate, it pays to bide your time in determining whether you should be aggressive or mellow toward an offer.?

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Check if you could take concessions

Buyers would ask you if you could take on concessions before closing the deal.?

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While impractical at first glance, agreeing to pay the closing costs on behalf of the buyer is a great way to break a stalemate, especially if both of you won't agree to each other's offers or if there are underlying issues with the home that would prevent the deal from pushing through.

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List with the best price

In most cases, it's how you price your NYC home that determines whether you'll succeed in selling it or not.?

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Negotiations fail before they could even begin when you settle for a price that didn't reflect current market conditions and buyer behaviors.?

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While it's your goal to close the deal with as much money in your pocket as possible, it's still important to set a price that's enough to attract eager buyers and filter out any low-ballers looking for a bargain.?

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Pulling out the comps for similar properties in your neighborhood will help you tremendously in this phase of the selling process.?

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Get a realtor to do the legwork

Ask anyone who has tried to sell their NYC home on their own and they'll tell you just how complicated it gets the longer a negotiation drags on.?

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If you don't have the luxury of time and expertise to face the other side, you can lean on an experienced NYC real estate professional who can talk about the terms on your behalf.?

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The right expert will help you sell your home fast by aiming for a situation where everyone is happy!

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Are you planning to sell your NYC home any time this year??

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The negotiation process takes time and effort and there's a good chance that you will end up with a less-than-ideal offer or that your home stays on the market longer.

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Let's connect so I can help you sell your home at the best price!?

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Start looking for an investment property to add to your portfolio. Call me at 917-627-5677 or send an email to [email protected]?so I can show you a few apartment and condo listings you might be interested in.

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Talk soon,?

Eli