Demo says that winning offers aren’t always about the highest price. Potential buyers also need to consider the conditions of the sale contract and what might appeal to the seller. To do so, it’s important to understand the owner’s motivations for selling by asking the sales agent some questions, such as:
- Why are the owners selling?
- How long has the property been on the market?
- Have there been any formal offers received on the property?
- How long have they owned the property for?
Demo says that different sellers have different motivations and by understanding these, potential buyers can use this information to their advantage. For example, a family selling their property to buy a bigger home may want a longer settlement period to give them more time to find, buy and move into their next home. Demo says that offering a longer settlement period in such instances could be the difference between successfully or unsuccessfully negotiating the purchase of a property.