In negotiations it’s important to hold firm to your prices especially when dealing with a buyer who did not take advantage of a purchase before a price increase.
Buyer says: “What a bummer! We looked at this house six months ago and the price was $10,000 less. I can’t believe it’s gone up that much in half a year!”
Buyer thinks: “Why didn’t we buy then? Dumb mistake! Maybe if I tell you we were here before, you’ll ask the builder to let us have it at the old price.”
You think: “I know the builder isn’t going to reduce the price, so my strategy must be to show them that, if they delay further, they’ll pay more later.”
You say: “This community is a great value and has a lot of appeal. Isn’t it refreshing to see a neighborhood with appreciating values? I am sorry you missed the chance to buy a few months ago, but now you have second opportunity to buy before the price increases again. Let’s pick out the home you want today and get it secured. Then you’ll be happy the next time the price … and your equity … goes up.”
Or…
You say: “What’s important is not to focus on what you could have done in the past, but on what you will do in the future. Let’s go ahead and secure your home/homesite today and next month/year you can sit back and realize you received today’s best value in the time frame that was perfect for you.”
By holding firm and showing the buyer that if they wait, the price will only continue to increase you can defeat this self-talk scenario.
