How do I negotiate the sale of my property?

In this article we will give you best practice pointers on how to negotiate the sale of your property.

• Be clear on your non negotiable number. Have you determined a reasonable asking price based on recent sales of similar properties and the costs involved in purchasing, owning and now selling the property? What profit do you want to make that still means you're asking for a reasonable price? Remember your house won't sell if it's over priced, it will sell if it's priced and presented well.
• Use the information from your CMA to convey value. Share the knowledge you have on recent sales with your potential buyers. How much have have similar properties sold for recently? What are the features your property has that they don't? Is your block slightly bigger, do you already have council approval for an extension, have you recently renovated the kitchen or bathroom? Look to the USPs (unique selling points) of your home to help the buyer see value in your property.
• Take into account current market conditions. Is it a sellers market or a buyers market? You'll have more leverage to negotiate your idea price in a sellers market and may need to be more flexible in a buyers market. Keep an eye on current auction clearance rates to better understand what type of market you're selling in. If you're clear on where the market stands you'll be well equiped in negotiation.