Often, your real estate agent will handle some of the negotiating, but you may want to be a part of it, too. If you're not good at negotiating or you just want to sharpen your skills, here are a few tips to help.
Have a Plan "B"
When you fall in love with a house and you put all your eggs into one basket, you lose negotiating power. It's better to have a plan "B" in case the first house deal falls through.
When you have a solid second home choice, you can negotiate without feeling as emotionally attached to the first house. This will keep you from bending just to get the first house because you know there's another option.
Listen and find the Motivation
Listening is far more important than talking in a negotiation. If you listen closely, you can easily find the motivation behind the seller's decision to list their home. This could help you to negotiate better, especially if part of the motivation is getting the home sold quickly.
Eliminate the Emotion
Yes, buying a house comes with plenty of emotion, but emotions don't help you during negotiations. Letting the seller know you really want the home won't help you, but will help them. It's better to strip the emotions and focus on finding the win-win situation for both you and the seller.
Focus on the Facts
After the inspection and appraisal are done, you should know quite a bit about the home. The facts of the home can be very powerful during a negotiation. You don't want to worry about anything that isn't a fact and you certainly don't want to be dishonest. However, you may need to use these facts to keep the seller in check, especially if they have their emotions wrapped up in the value of the home.
These are just four of the things you should remember when negotiating a real estate deal. Your agent can help and provide advice, but you will probably end up making the final decision as to how you negotiate the final deal.
The Ashton Real Estate Group of RE/MAX Advantage
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