8 Rules of Negotiating the Best Price for your New Scottsdale Home

No one wants to pay more for something than it’s worth – and homes for sale in Scottsdale are no different.

But first, you have to realize that Scottsdale home market conditions will dictate your ability to get a good deal. A “buyer’s market” means there is an abundance of homes for sale in Scottsdale. These market conditions mean you’re likely to find a good deal on a Scottsdale home.

A “seller’s market” means the opposite – there are few homes for sale in Scottsdale and even fewer that interest you. These conditions mean there’s not much chance of purchasing a Scottsdale home at below asking price. In all likelihood, you will pay right at asking or a little higher.

For our purposes, we’ll assume the Scottsdale home market is balanced – meaning there’s an equal number of homes for sale in Scottsdale and an equal number of buyers looking. We’ll assume you have at least two houses that interest you and suit your needs. Thus, you can negotiate for the best price but you won’t be devastated if something doesn’t work out.

Read on for eight rules you can employ to negotiate the best price for your Scottsdale home.

Rule #1: Keep your mouth shut!

When looking around at prospective homes, be cautious about how you express your interest. Asking questions is okay and certainly important, but don’t shout “I love this house and I have to have it”, not even to your own agent. This can especially be a troublesome move if the seller or his/her agent is present.

Rule #2: Carefully consider your offer

Take some time to consider how much you will offer for the Scottsdale home. Talk it over with others who will be sharing the home and decide on the most you’re willing and able to pay.

Rule #3: Compare your top price to the asking price

Look at your top price and the asking price so you can structure your initial offer in a way that when you get to your top price, you will have come more than half-way to meet the seller.

Rule #4: Make your first counter-offer concession the largest

Especially in a “buyer’s market”, there may be several counter-offers you will need to be prepared for. In this case, make your first concession the largest. For example, increase your offer $8000 over your initial offer for the first counter-offer, $5000 the second time and only $2000 the third. This gives the seller the psychological hint that they may be close to losing the sale.

Rule #5: Don’t say “This is my final offer”

Something about that statement offends and irritates people. Rather, if you get another counter-offer that’s above your maximum price, simply counter with your last offer. Politely tell the seller that this is the best you can do and hope they will re-consider.

Rule #6: Consider other incentives for the seller besides money

Sellers do want money but there may be something else you can offer that’s just as good. Each situation is unique so you will have to figure out on your own what that might be. Perhaps you own a timeshare in Sedona you could let them use for a week in the upcoming year for nothing. Or you can agree to let them stay in the house for an extra two weeks after closing…there’s many possibilities to consider.

Rule #7: Be prepared to walk away

Prepare yourself for the possibility things will not work out and you will have to call the deal off – be sure your Scottsdale home realtor knows this as well. This by far is your strongest negotiating tool provided the seller’s agent and the seller are aware of this fact.

Rule #8: Don’t use your Scottsdale home realtor as a confidant

It’s certainly okay to ask their opinion and if you’re using a buyer’s agent, it’s okay to ask for a market analysis. But don’t share with them your plans, feelings or strategy. It’s highly unlikely your agent would sell you out but accidents happen and words slip.
Attitudes show as well so if your agent is operating under the assumption that you’re willing to walk away, they will convey this attitude to the seller and their agent. If you’re not willing to walk away and you must have that Scottsdale home no matter what, that attitude will show too.

These are just a few ways you can negotiate the best price for your Scottsdale home. If you’re considering purchasing a home for sale in Scottsdale, I invite you to enlist my experienced Scottsdale home realtor services to find the right home for your needs at the right price.

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