by Laura Kocum
on Tuesday, July 9th, 2019 at 8:29pm.
When deals need to be made, it all comes down to trusted relationships. You can buy and sell homes in Madison, but to do it well, you will need a Realtor who values relationships and brings solid negotiating skills to the table. This adds some strength to your real estate plan, and it helps remove some of the emotion that could otherwise cloud the negotiations. The Mad City Dream Homes Team can help you look at the big picture, and they have enough history in the business to creatively problem-solve, and get you the best deal.
"Our team places a high-value on quality communication, " says Maureen Moran. "We can gather so much more information about the sale for our clients, simply by picking up the phone and talking with the other agent."
Negotiation skills are at the heart of a successful transaction, whether you're a buyer, or a seller. The Realtors at Mad City Dream Homes understand this, and consider it the first step to a successful experience. For buyers, this can begin before they've even seen a property. "We can call ahead of a showing, or before placing an offer on a property, and vouch for our buyer's situation. In a market where things move quickly, it often helps the sellers to know that a potential buyer is already approved to purchase the property, and is not likely to back out," says Chris Venden. "This alone can help the offer stand out in a crowded field."
Then, as a property goes through the inspection and appraisal process, the negotiations begin again. "It really depends on each situation, but part of our job is finding creative solutions that meet our clients' needs," says Shelley Lazzareschi. The solutions can vary- but some of the more recent winning negotiations include:
- Negotiating the Inspection: Tammy and Chris worked with a buyer to create a strong offer to purchase. This buyer chose to cover the first $2,000 of inspection issues, before the inspection took place. This approach allowed the seller to see the buyer's legitimate interest in the house, and their commitment to not "nickel and dime them" through the inspection. The buyers still had a home inspection contingency, so they were protected from the possibility of significant defects. This inclusion in their offer set them ahead of the competing offers, gave them more negotiating power, and won the sale of the home.
- Negotiating the Loan: Maureen worked with a buyer who had limited funds, and the home they wanted had the potential for some maintenance in the near future. Maureen helped them negotiate a reduced loan amount, allowing them to be prepared for the cost of any deferred maintenance after their purchase. This kept the seller from having to pay for extra repairs that were potentially unnecessary, and protected the buyer from unanticipated future expenses that would cause financial harm.
- Negotiating Significant Issues: Chris assisted a buyer as they re-negotiated an offer post-inspection. She helped the buyer identify significant issues with a property, and used her relationship with the seller's agent to build trust, and come up with a mutually agreeable plan to finalize the sale, while correcting important issues.
- Negotiating a Competitive Offer: Shelley worked with a buyer who wanted a property, but their offer wasn’t accepted. Shelley helped the buyer write a secondary offer. This offer was for the same property, and was designed to put them in front of the line to buy the property, if the first offer fell through. She was diligent to follow up with the listing agent, and she learned that the first offer was, in fact, not going to go to closing. Through her patience and persistence, Shelley’s client was given the opportunity to have their new offer accepted, and to close on their dream home.
"It's surprising how just a phone call can make all the difference," says Maureen. Often agents and clients communicate by text, and important details can be missed along the way. "You can't skip the personal interaction. That's where we can vouch for our clients, and make sure the details are clear." And Tammy agrees- "Calling ahead of an offer gives our buyers the advantage. The other agents know their interest, and know they are serious about the home. And it allows us to learn more about the seller, and their situation." This creates the right opportunities to negotiate.
For sellers, the negotiation begins with the right listing. Dan Miller specializes in this part of the process. "Our first job is to ensure you have an awesome listing. Then, we can attract multiple offers, in writing. This creates a great opportunity to negotiate the details. We can reach out to multiple buyers in a professional and transparent way. This does so much for our clients, and helps them get the best possible offer," he says. His listing plan is designed to remove any objections, before the property attracts offers. When you combine his listing plan with the hot competition in the Madison area, the Mad City Dream Homes sellers consistently negotiate favorable deals.
"We remove some of the stress from our clients, and bring logic into an otherwise emotional situation," says Chris. To learn more about the Mad City Dream Homes team model, please contact one of our full-time real estate agents here.