Caroline Ashe Your Source in Augusta, GA Real Estate February 18th, 2012
Real Estate Negotiation 101
This is the part of the deal I salivate over, as an agent! If you are buying a new home all the pounding the streets looking at home after home is complete. If you are selling your Realtor’s marketing plan has paid off!
So let’s get down to business! If you’ve never bought or sold a home before the real estate negotiations can be intimidating. It doesn’t have to be if you remember these tips and have a knowledgeable agent on your side.
First, try your best to keep your emotions out of the negotiations. In my experience as a REALTOR, this is the hardest part for buyers and sellers. Think big picture and don’t get ‘offended’ by the offer, if you are seller, but instead remember the real estate climate we are in- a buyer’s market. It’s what buyers are conditioned to do in today’s real estate market and think, if you are buying a home after selling you will then have the same want to make an aggressive offer on a home.
Second, know that there are other hidden terms and motivations at play with both buyers and sellers. A good REALTOR can be valuable here if he/she has done their job and tried to uncover any hidden terms or motivations. These could be things like divorce, job loss or a job transfer. Make sure you and your agent do your ‘homework’ and get the scoop!
Thirdly, always have a plan or strategy for how to get to your desired price and terms. Your agent should be able to guide and advise you in developing the best strategy to achieve your negotiating goal. Mix this plan with a large dose of patience and understanding. You should strive for a win-win outcome, don’t come off as greedy or uncaring. Buyers and sellers like to do dealings with people who are caring and honest.
Lastly, work with all parties to problem solve through the terms and conditions of the sale. If a buyer wants to buy and a seller wants to sell all parties should work to find a solution. 99% of the time one can be found, it just may take some work.
Bonus tip – Make sure as a buyer or a seller you have your walk-away price and terms in mind. There comes a time when the deal just will not work for a various of reasons. Timing, financial, etc… Know what this is BEFORE you begin the negotiations.
Want to talk about your next move and want a negotiation pro in your corner? I would like to talk to you!
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