Negotiation: Let's split the difference so it's fair for both sides.False. Splitting the difference may not be fair when the parties disagree on things that can't be split, such as timing or whether appliances stay. And it's especially unfair when buyers make a lowball offer. "If I've listed my house for $200,000, and it's worth $195,000," explains Dotzour, "if a buyer offers $170,000 and we split the difference at $185,000, that's not fair to me." Even when the parties aren't that far apart in price, says Delaney, splitting the difference may not be fair. "1f there's only a $10,000 difference in price but the sellers believe the property is fairly priced and that other buyers will more closely approximate what they're asking, they're better holding off," he explains. "On the other hand, if the property's been languishing on the market, it might be best to split the difference. It depends on the motivation of both parties. How desperate are sellers to sell, or how badly do buyers want the property?" Exception: If both parties are holding firm in a price range that's reasonable for the property, splitting the difference might make sense, says Dotzour. |
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