The Quickest Way To Lose Your Negotiating Power as a Homebuyer

The spring home selling season is here, and homeowners have spruced up their homes and rolled out the welcome mats to potential homebuyers.

A recent survey from Realtor.com® found that more than half (53%) of home sellers took one month or less to get their home ready to list. The peak time for the best time to sell is the week of April 13–19. Nonetheless, homebuyers looking to find their dream home are mapping out their open house tours and preparing their checklists.

Jordan Suber, a real estate agent in Austin, TX, shares some advice on a Facebook Reel so that you don’t lose any negotiating power.

“You never want to discuss a property in front of the sellers,” Suber says.

You might be wondering how that’s possible if they’re not home while you’re touring their property, but Suber points out Ring doorbells and security cameras could be around.

“Your comments could be overheard,” says Suber. “Always talk outside, far from the home, or wait to discuss with your Realtor® later.”

Ring cameras are security cameras that can provide real-time video footage of one’s property, but security cameras can come in many forms and blend in with your decor.

Pros and cons

Suber points out that sharing your thoughts on the home can have its pros and cons.

If you have positive comments, says Suber, the “sellers might think you’re emotionally invested and could push for better terms.”

If you have negative comments, he adds, “Criticism could turn [the sellers] off, affecting your offer.”

Suber advises keeping your thoughts private until you’re in a “safe space to strategize your next move.”

As he explains, “It could make or break the deal.”

Listing luck

As homeowners are looking to sell, Realtor.com economists found that the number of buyers browsing a listing can determine how many offers a home gets and how quickly it sells.

The more buyers looking at a home, the better for the seller, and in most years, buyers start earlier than sellers.

“Thanks to above-average demand, homes sell more quickly during this week. Historically, homes actively for sale during this week sold 17%, or roughly 9 days, faster than the average week,” says Hannah Jones, senior economic research analyst at Realtor.com.

On the flip side, Jones notes that price reductions tend to peak in the fall as sellers leave the market after the summer rush to try to attract attention.

The late winter and spring bring the year’s lowest level of price reductions as buyer activity ramps up.

Negotiating power

There is an art to the negotiation, but each deal will look different. Your real estate agent will be able to help you understand who has more bargaining power: you or the seller. You don’t want to push so hard that you lose the deal.

If you’re buying new construction, there’s room for negotiations there, too. Many times, builders or developers are hesitant to negotiate the purchase price of a new home because the recorded price affects the perceived value of the other homes.

So the negotiations may be in the form of what takes place in the back end of the deal. Builders may throw in added incentives or upgrades to the home or additional options, such as cabinetry or flooring.

Bottom line: Work with your real estate agent to understand what to request and know when your “ask” could be a deal breaker.

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