Buyers Have More Negotiation Power Heres How To Use It

You may have heard there are more homes for sale right now. And while thatll vary depending on the market, it means that overall, things are starting to lean in a more balanced direction. As that happens, some sellers are a bit more open to compromise. Heres what that means for you.

You may be regaining some negotiating power. That can translate into savings, perks, or even better terms on your purchase if you know what levers to pull during negotiation.

Why an Agent Is an Essential Part of the Negotiation Process

The complicated part is knowing what is and isnt on the table. Thats where your agent comes in. According to the National Association of Realtors (NAR), besides finding the right home, the top thing buyers want from their agent is help negotiating the terms of the sale, followed by negotiating the price.

Heres why. Agents are skilled negotiators and are trained for moments like this. Since your agent is an expert on the local market, theyll also know whats working for other buyers (and whats not), and that can help you get a better understanding of whats realistic to ask for.

What's on the Negotiation Table?

Here are some of the most common concessions an agent can help you negotiate:

• Sale Price: The most obvious concession is the price of the home. And that lever is being pulled more often today. Buyers dont want to overpay when affordability is already so tight. And sellers who arent realistic about their asking price may have to consider adjusting their price.
• Closing Costs: Closing costs are usually about 2-5% of a homes purchase price and include fees for things like the appraisal, title insurance, and underwriting of your loan. To offset the cash you have to bring to the table, you can ask the seller to pay for some or all of these expenses. This was the most common concession sellers made in 2024, according to NAR.
• Home Warranties: If youre worried about the maintenance costs that may pop up after you get the keys, you can ask the seller to pay for a home warranty. Since this concession usually isnt terribly expensive for the seller, it can be a good negotiation tool for a buyer. Its not a big cost for them, but it can be a big perk for you.
• Home Repairs: Based on the inspection, you're within your rights to ask the seller to make repairs. If the seller doesnt want to, they could offer to drop the home price or cover some closing costs, so you have more room in your budget to take care of the repairs yourself.
• Fixtures: Want that washer and dryer to stay? Maybe the stainless-steel fridge, too? In many cases, you can ask for appliances or even furniture to be included in the deal, which will save you money when you move in.
• Closing Date: The closing date is also negotiable. Based on your timeline, you may also request a faster or extended closing window. Depending on the sellers needs, this could be great for their situation, too.

Of course, negotiating is a complex process. And not every seller will be willing to offer concessions. Again, lean on your agent for expert advice about whats realistic to ask for and what could turn sellers off.

Because once youve found a home you love, you dont want to risk losing it. But you also want to get the best terms possible on your purchase and thats where an agent can make all the difference.

Bottom Line

As inventory grows, buyers are finding they have a bit more leverage. And having the right agent by your side who can help you approach negotiations strategically is key.

Whats your biggest concern when it comes to negotiating with a seller?