Guest Blogger: Peter Richman

To wrap up the posts from earlier this week, here are Peter's final thoughts on how a "win-win" strategy is the key to closing any sale.

From Peter Richman:

Let's evaluate some numbers here:

Questions to the seller:
a. You agree the listed price should be $215K-$225K--correct? Answer - YES!
b. You also agree that the market is horrendous! Answer - YES!
c. However, you sincerely want to move? Answer - Well, if I get my price. (Sellers wife kicks husband in groin area!)

As the broker I am usually in the position where I have to talk some sense into the seller. In this instance I would say:

Knowing that your offered price , at the low end would be $215K, and you aware that there are comps lower out there, you also agree that, in your mind, even though you hope for more, you might receive an offer at 200K. While you didn't expect it and won't give it away, this offer is not far off and its from qualified purchasers. If you turn this down, you will be buying your home back for $13K-$15K. Can you honestly tell me that you could sleep at night knowing that you were not moving for $13K-$15 K in this market when you might have the opportunity to offer less on the home you wish to purchase? Also, your existing mortgage is $700/mo @ 6 months is approximately $4,500!! So now you are only $9K away! For 9K you will stay here?

At that point, the seller signs deal or the seller's wife kills her husband or the broker kills the seller, and then shoots himself!