Hidden Offer Costs That Destroy Your Bottom Line & How to Negotiate Them | Ep 45

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An offer may be enticing on the surface, but hidden costs can erode their bottom line. Glen Whitten, a seasoned realtor with over 2,500 home sales, explains how to identify and manage these expenses. Learn about the significance of focusing on the net proceeds, the negotiable nature of contract terms, and the importance of scrutinizing every expense. Key topics include seller concessions, buyer’s agent commissions, property taxes, conveyance fees, and title-related costs. Glen also outlines negotiation strategies and the value of using multiple counteroffers to reach a favorable deal.

You’ll learn:

  • Which fine print terms can quietly gut your profit
  • How to use counteroffers and addendums to protect yourself
  • What’s changing with the NAR lawsuit and how it affects seller-paid commissions
  • Proven strategies to negotiate thousands of dollars back into your bottom line

Whether you’re selling FSBO or with an agent, this episode could save you thousands.

Key Moments:

  • 00:00 Introduction: Hidden Costs in Home Selling Offers
  • 01:02 Glen’s First Offer Experience
  • 03:03 Understanding Offer Reviews
  • 03:35 Key Clauses Impacting Your Bottom Line
  • 07:16 Seller Concessions Explained
  • 09:55 Buyer’s Agent Commission
  • 15:28 Property Taxes and Conveyance Fees
  • 21:26 Title Fees and Company Selection
  • 33:10 Miscellaneous Junk Fees
  • 34:30 Hidden Fees in Real Estate Transactions
  • 34:52 Document Storage Fees: A Realtor’s Perspective
  • 35:30 Pushing Back on Unnecessary Fees
  • 36:09 Seminars and Junk Fees
  • 36:36 Marketing Fees and Home Warranties
  • 37:52 Utility Holdbacks and Rent Prorations
  • 39:59 HOA Fees and Point of Sale Certificates
  • 44:02 County Requirements for Well and Septic Certification
  • 48:16 Negotiating Fees Without Blowing Up the Deal
  • 55:17 The Ackerman Method for Negotiation
  • 01:03:06 Final Thoughts and Q&A Announcement

Key Resources:

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