If you haven’t already heard, homebuyers are regaining some negotiating power in today’s market. While this doesn’t make it a buyer’s market, it does mean buyers may be able to ask for a little more. Sellers need to be ready for that possibility and know what they’re willing to negotiate.

Whether you’re looking to buy or sell a house in Conejo Valley, here’s a quick rundown of potential negotiations that may pop up during your transaction. This way, you’re prepared no matter which side of the deal you’re on.

What Can You Negotiate? Most things in a home purchase are on the negotiation table. Here’s a list of just a few of those options, according to Kiplinger and LendingTree:

• Sale Price: The most obvious is the price of the home. Buyers don’t want to overpay when affordability is already tight. Sellers who aren’t realistic about their asking price may have to consider adjusting it.

• Home Repairs: Based on the inspection, a buyer can ask the seller to make reasonable repairs. If the seller doesn’t want to, they could reduce the home price or cover some closing costs so the buyer can handle the repairs themselves.

• Fixtures: Buyers can ask for appliances or furniture to convey with the house. For sellers, leaving behind existing appliances can sweeten the deal.

• Closing Costs: Closing costs typically run about 2-5% of the home’s purchase price. Buyers can ask the seller to cover some or all of these expenses.

• Home Warranties: Buyers can ask the seller to pay for a home warranty to cover maintenance costs that may pop up after the sale.

• Closing Date: Buyers can request a faster or extended closing window. Sellers can also advocate for what they need to find the right compromise.

One thing is true whether you’re a buyer or a seller: your agent can help you throughout the process. Your agent is your go-to for any back-and-forth. They’ll handle the conversations and advocate for your best interests along the way. As Bankrate says, “Agents have expert negotiating skills. Without one, you must negotiate the terms of the contract on your own.” They may also uncover what the other party is looking for in their discussions with the other agent, providing valuable insights at the negotiation table.

Bottom Line Buyers are regaining some negotiation power in today’s market. Buyers, knowing what levers you can pull will help you feel confident and empowered going into your purchase. Sellers, having a heads-up on what buyers may ask for gives you the chance to think through what you’ll be willing to offer.

Want to chat more about what to expect and the options you have? Let’s connect.