Three tips for tough repair negotiations in this seller’s market.
It can be tough negotiating repairs for buyers in a seller’s market like this. Here are three tips to help your buyers win repair negotiations:
1. Never surprise anyone by email. Don’t just email your repair requests directly to the listing agent. Give a courtesy call to the listing agent when the inspection is done and set the expectation that you’ll call them the next day after you’ve reviewed the report with your buyer. After you’ve talked with your buyer and finalized the repair request, call the listing agent and tell them that the repair request is on the way. I also like to give a brief summary of what they should expect.
“Don’t offer advice until you’ve heard what your buyer has to say.”
2. Listen first. When you’re having that critical conversation with your buyer, you should first ask them about whether they got the report, whether they’ve read it, and what they think of it. Let the buyer talk first, and don’t bring your assumptions or advice into the conversation until you’ve heard what they have to say.
3. Negotiate by phone and follow up in writing. First, you’re going to negotiate your must-haves and nice-to-haves with the listing agent. Talk with them by phone and find out what the other party wants, then follow up with a written agreement.
If you have any questions about negotiating repairs or anything else related to real estate, please feel free to reach out by phone or email. I’d love to help you.