Negotiating Like Your Life Depended on It
Learn how to develop a strong bargaining position that will help you get the most from a transaction.
WHY YOU SHOULD NEGOTIATE LIKE YOUR LIFE DEPENDS ON IT WHEN BUYING A HOME
Negotiating skills are the stock in trade of real estate brokers and agents. However, if you are planning to negotiate with the seller on your own, you need to develop strong communication skills in order to get the property at the price you want.
According to Chris Voss, a former negotiator for FBI and the author of “Never Split the Difference: Negotiating As If Your Life Depends On It”, great negotiators try to find out more about their counterparts to have an advantage over them. Identifying the unknown variables is yet another strategy of getting an upper hand in a deal. However, why are these strategies important?
- Negotiation makes the seller feel that you are an informed buyer- There are no particular rules regarding the amount of discount that a seller can provide to the buyer. It totally depends on the negotiation skills of the purchaser. The word ‘no’ can go a long way in such transactions because the seller feels that you are aware of the market scenario. He is more likely to slash down the price in this case.
- Your experience comes across when you haggle- Relentless negotiation reflects the confidence and experience of the buyer. When you resist compromise, the seller unconsciously accepts the conditions that you set on the discussion. You can prepare yourself by studying the style and method of negotiation that the seller uses so that you can put up a tough front.
- You get an edge over competitors- It is very likely that the property which you are interested in buying has many offers from different buyers. In such a case, you need to have good negotiation skills to rise above the competitors and secure the deal. It is important to convince the seller to come down to your offer price by using tactical empathy which can disarms the seller and defuses his argument.
- You can acquire many other benefits- Negotiation between buyers and sellers is not restricted to the listed price of the property but also includes consultation regarding other costs involved in closing of deal, inspection of property and upgradation charges. With skilful negotiation, you can get rid of these extra costs and make considerable amount of money.
Use negotiation tactics to acquire your dream home at the best possible price.
Take help of a professional real estate broker like Buyer’s Trust Real Estate & Investment to get the best representation and negotiation in any property deal.