Real Estate Negotiation Strategies for Sellers: Techniques from Chris Voss’s Playbook

As a seller in Miami’s softening real estate market of 2024, you’re likely facing buyers who are becoming more aggressive with their offers. To stay competitive and still secure a good deal, mastering negotiation tactics is essential. Below are 10 actionable strategies, inspired by Chris Voss’s Never Split the Difference, tailored for sellers looking to navigate today’s real estate environment.

Also read: Real Estate Negotiation Tips for Buyers – Inspired by Chris Voss’s Playbook

1. Start with Tactical Empathy

In a cooling market, buyers may submit lower offers, anticipating some flexibility. It’s important to acknowledge their concerns while maintaining your expectations. For instance, if a buyer offers less than your asking price due to current market conditions, you could respond with, “I see why you might be hesitant in today’s market, but this home possesses unique qualities that warrant its price.

2. Set a Realistic Price, But Be Prepared to Hold Firm

In a slower market, pricing your home correctly is essential. Overpricing can deter potential buyers, while underpricing may mean losing out on potential profit. Establish a fair price based on a comparative market analysis (CMA) and be prepared to justify it. If buyers come in with offers 10% below your asking price, don’t view this as a starting point. Instead, articulate the value of your home in comparison to others. For example, you might say, “Homes like this, featuring updated amenities and located near top schools, maintain their value even in a softer market.”

3. Use “No-Oriented” Questions to Stay in Control

As a seller, using “no-oriented” questions can provide a strategic advantage. Rather than asking, “Can you meet our price?” which puts them on the defensive with a “yes,” consider asking, “Would it be unreasonable to expect a higher offer given the upgrades in this home?” This approach enables you to guide the negotiation while avoiding making the buyer feel pressured.

4. Label the Buyer’s Concerns

5. Hold Your Ground with the Ackerman Model

The Ackerman model is just as beneficial for sellers as it is for buyers. If a buyer counters with an offer significantly below your asking price, respond with incremental adjustments: start by countering at 95% of your asking price, then move to 98%, and finally present your minimum acceptable price. Each concession should be smaller than the previous one, indicating that you’re approaching your limit without compromising too much.

Example:

If a buyer offers 15% below your asking price, you could counter at 95%, then, after some negotiation, raise it to 98%. By the time you reach your final figure, the buyer will likely recognize that there’s little room left for further negotiation.

6. Leverage Silence to Your Advantage

7. Avoid Splitting the Difference—Negotiate Terms Instead

When a buyer proposes meeting in the middle, resist the temptation to compromise on price. Instead, focus on negotiating other terms, such as closing costs or flexible move-out dates. For instance, rather than lowering your price, you could agree to cover part of the buyer’s closing costs if they accept your asking price. As a seller, it’s crucial to NEVER agree to make repairs on the property. Agreeing to repairs can open the door for the buyer to re-inspect and potentially renegotiate. Securing a buyer without additional contingencies will help you move forward confidently with the deal.

Example:

Buyer: “Let’s meet halfway on the price.”
You: “Instead of reducing the price, I’m willing to provide a credit toward repairs to accommodate your needs.”

9. Foster “That’s Right” Moments

Summarize the buyer’s concerns and circumstances to encourage them to agree with your perspective. This strategy builds rapport and helps the buyer feel acknowledged, making them more receptive to your terms.

Example: 

So, you’re seeking a move-in ready home in a top school district that fits within your budget—this home checks all those boxes, doesn’t it?” When the buyer responds with “That’s right,” they are more likely to stay engaged in the negotiation.

10. Know When to Walk Away

In a softening market, some buyers might try to push you into accepting a deal that falls short of your goals. Be ready to walk away if the terms don’t meet your expectations. Often, demonstrating a willingness to walk away can encourage the buyer to return with a more attractive offer.

Example:

If a buyer demands a 15% price reduction and you’ve reached your limit, you could say, “I understand if this isn’t the right property for you at this price, but we’ll need to decline that offer.” Many times, buyers will rethink their position and come back with a more reasonable counteroffer.

Conclusion: The Importance of Strong Negotiation Skills in a Softening Market

As the Miami real estate market cools, sellers can still maintain an advantage by negotiating effectively. By employing the right strategies, you can achieve a favorable deal that protects your interests while avoiding lowball offers and unnecessary concessions.

Looking for expert guidance on negotiating your sale in today’s market?

With over 15 years of experience, I have successfully negotiated thousands of contracts! If you’re interested in advanced, data-driven strategies that will empower you to close your deal on your terms, give me a call. I’ll walk you through my process and show you how I can help you sell your home for the best possible price.

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Do you want to know more about Real Estate Negotiation Strategies for Sellers? Contact me today at 305.508.0899 or schedule a meeting below.