ERA Justin Report: Real Estate Negotiation Tips that Help

Realtor professional Cathy Vick has serviced the needs of her loyal buyers and sellers for over twenty-years at ERA Justin Realty.  Additionally her expertise has earned her a relocation specialist designation with the nation’s largest relocation company and she serves the requirements of Fortune-500 buyers and sellers in their purchase and sale.

Just about everything that we’ve all learned about real estate selling and buying is different in today’s ever- changing real estate market. The game rules have changed nationally and we are now dealing in what experts say is the “New Normal.”


As a seller, you will want to know whom you will be negotiating with. Are your buyers financially qualified for mortgage financing? ERA Justin Realty will never present an offer to a seller without a qualified mortgage pre-approval from a recognized lender with a proven track record.  It is typical for any of as when being a seller to hope for the best price, but highest may not necessarily be the best because it doesn’t always come from a buyer who can financially close the transaction based on two important factors; obtaining the needed financing and equally important, having the seller’s house appraise based on comparable sales within the short few months timeframe. Although cash is considered king, large cash down payments are almost non-existent, with most buyers working with the minimum required down payment requirements. If the lender’s appraisal of value is less than the selling price, the transaction may fail because of new negotiations.


Cathy Vick a Realtor professional with ERA Justin Realty and one of the firm’s certified relocation specialists, stated, “As a seller or a buyer, each transaction is typically an emotional experience. Being rational is a necessity in making proper decisions. I, along with many of my ERA teammates, work with the nation’s largest relocation company representing dozens upon dozens of Fortune-500 buyers and sellers.  We have the information for successful closed transactions. Educated sellers do counter any offer from a bona fide qualified buyer. We give good advice to our buyers too, as to their need to be prepared to adjust their offer in order to own the home of their dreams. We advise that negotiations are the process, not adversarial. Both are trying to reach their common goal, the purchase and sale of the property.”


Ron Darby, Broker Owner stated, “We work with each of our sellers, advising them to be realistic in this ‘new normal real estate market.’ For sellers who will only sell if they get a certain price, we nurture those relationships by showing them current comparable sales, those sales that the appraisers use for their appraisal process, expired listings and that overpriced houses linger on the market while the buyers simply move on to one or more other houses that fit their needs. As of this writing there is approximately ten months of unsold housing inventory available.”


During 2011, Cathy will continue her specialty in advising her buyers and sellers with dedicated service and with a comprehensive CMA report as to correct pricing for this market for each new listing.