Buying Your Next Home Can Be Worthwhile
Jody and Todd were exploring the purchase of their third family home. After the birth of their second child, it was time. She had compromised on the first two purchases. This time she entered the market with absolute clarity, refusing to make any more compromises on her future home.
Their Search Was Exhaustive
She and Todd scoured the internet and looked at a multitude of homes, and yet nothing pleased her. They considered building but decided that the right resale would give them the best value for their money.
It Took Eight Months
Eight months later, they stumbled on a home in Port Colborne that caught their attention like no other before. It was a standout home but beyond their price range. The home was owned and built by a builder, crafted with premium materials, custom finishes and meticulous attention to detail.
The Seller's Position
Their REALTOR® informed them that the home had been on the market for ten months. From her discussions with other agents, as well as the listing salesperson, the seller was adamant about his price and refused to compromise. Todd and Jody still wanted to inspect the property. After their second showing, they decided to make an offer. It was $60,000 lower than the already reduced list price, and the seller summarily rejected what he considered to be an insulting, low-ball offer.
Resubmitting and Budget Stretched
They then increased their offer by $10,000, a move that pushed them to the absolute brink of their budget. This time, the seller rejected the revised offer and countered at the full list price, explicitly signaling that no further negotiations would be entertained. It was a take-it-or-leave-it proposal.
The Buyers Were Utterly Disheartened
After months of exhaustive searching, they had hit an absolute brick wall. The REALTOR® advised them to pivot back to the market, confident that the right home was out there for them. They dismissed the advice and decided to withdraw from the market.
Then Todd asked, "Is there no other option?" That's when the agent offered a piece of brilliant advice: "Take a breather. Let's give the seller a few weeks to mull things over. What have we got to lose?"
Cracking Under the Pressure of Time
By going completely silent, the buyers forced the seller to face the cold reality of an empty market. The seller ultimately capitulated because the alternative, no buyer at all, plus the financial pressures and exhaustion of waiting, was no longer tolerable. The seller's message: if the buyer's offer was still on the table, he would accept it.
The response was a definite yes!
Takeaway for Today's Market
When a negotiation hits a brick wall, your greatest asset isn't more money. Sometimes, it is time and silence.
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