Tips for negotiating the best price on a property sale

In a housing market marked by shifting interest rates, tight inventory in some regions, and eager demand in others, negotiation remains one of the most crucial—and often misunderstood—parts of any property transaction.

“As real estate professionals, we often see deals fall through or stall simply due to a breakdown in expectations,” says Adrian Goslett, regional director and CEO of RE/MAX of Southern Africa. “The key is preparation. Both buyers and sellers have more leverage than they realise—if they know how and when to use it.”

One of the most powerful forms of leverage is information – know what the local market conditions are doing and understand the local property trends, including average price per square metre and recent comparable sales. This gives buyers the context they need to make realistic yet competitive offers, and sellers the ability to know a cheeky offer from a fair one.

Apart from the local market, Goslett recommends that buyers and sellers should also find out a bit more about the person on the other side of the offer. “For sellers, it’s important to know if the buyer can meet the commitments so that the deal doesn’t fall through. Having pre-approval for home finance gives buyers greater financial credibility, so it is worth considering these offers more carefully than those who make offers without,” says Goslett.

For buyers, it is useful to know how long the property has been on the market – as this might be an indication of how flexible a seller might be in terms of price. “For either party, understanding the other party’s urgency can be a powerful tool in negotiations. If a buyer is pressed for time, sellers may hold firm on price while offering flexible terms. Conversely, if a seller needs a quick sale, buyers might be able negotiate a better deal,” he explains.

The good news is that buyers and sellers do not need to do all this on their own. Their chosen real estate agent will handle most of the negotiations on their clients’ behalf. A qualified real estate professional brings objectivity, industry knowledge, and negotiation expertise to the table, ensuring that both the buyer’s and seller’s interests are well represented. If you are unsure on how best to approach the offer, lean on your agent for their hard-earned advice.

“In my opinion, the best deals are those where both sides feel heard, respected, and satisfied with the result. With the right insights and support from the right agent, every property transaction can be a win-win,” he concludes.

Issued by: Kayla Ferguson