You may have noticed an increase in homes for sale lately. While market conditions vary by location, this trend is leading to a more balanced real estate landscape. As a result, sellers are becoming more open to negotiations, creating new opportunities for buyers. Here’s what that means for you.

Unlocking Negotiation Power

With a shifting market, buyers are regaining the ability to negotiate better terms. This could mean securing a lower price, requesting seller-paid closing costs, or even asking for additional perks. Knowing which aspects of a deal can be negotiated—and how to approach these discussions—can make a significant difference in your home-buying experience.

Why a Real Estate Agent Is Key to Successful Negotiations

Navigating home negotiations can be complex, and that’s where a professional real estate agent becomes indispensable. According to the National Association of Realtors (NAR), one of the top reasons buyers seek an agent is for help negotiating purchase terms and price.

Experienced agents understand the local market and can provide insights into what’s realistic to ask for. Their negotiation skills can help buyers secure the best possible deal while ensuring they don’t miss out on a great home due to unrealistic demands.

What Can Be Negotiated?

Here are some common areas where buyers may have leverage:

• Sale Price: One of the most significant negotiation points is the home’s price. Many sellers are adjusting their expectations in today’s market, making it possible to secure a better deal.

• Closing Costs: These typically range from 2-5% of the purchase price and include lender and title fees. Buyers can request that sellers cover some or all of these costs, which was the most common concession made by sellers in 2024, according to NAR.

• Home Warranties: To ease concerns about potential maintenance costs, buyers can ask for a home warranty to be included in the deal. This is often a small expense for sellers but a valuable benefit for buyers.

• Home Repairs: If an inspection reveals necessary repairs, buyers can request the seller to handle them or negotiate a price reduction or closing cost credit to cover future fixes.

• Fixtures and Appliances: Want the stainless-steel refrigerator or washer and dryer to stay? These are often negotiable, saving buyers money when they move in.

• Closing Date: Buyers and sellers can negotiate the closing timeline to accommodate personal schedules, whether that means a faster or extended closing period.

The Importance of Strategy

While negotiating can be beneficial, not every seller will be open to concessions. A strategic approach, guided by an experienced real estate agent, ensures that buyers make reasonable requests without jeopardizing their chances of securing the home they love.

Bottom Line

As housing inventory grows, buyers have more opportunities to negotiate favorable terms. Working with a knowledgeable agent can help you make informed decisions and secure the best possible deal on your home purchase.

If you have any questions about navigating negotiations in today’s market, reach out to Mike Panza and the team at Panza Home Group for expert guidance.