Real Estate Negotiating Tips: How To Negotiate Like A Realtor
The negotiation of a sale or a fee or a counter-offer can be very intimidating, especially to the uninitiated. But by remembering a few simple tips and getting some practice, virtually anyone and everyone can learn to stand their ground and negotiate like the pros.
Don’t assume. It can be easy to automatically assume that your offer is so outrageous or presumptive that it will never get a second look from the other party. Do not make these types of assumptions, but project confidence instead.
Identify your strong points. How can you justify your offer? Maybe the property is overpriced or underpriced, has been on the market a short time or a long while, or HOA or parking fees are exorbitant or non-existent. These arguments could be spun either way to get buyers to pay more, or sellers to simply pay closing costs or even decrease the asking price. When negotiating realtor’s fees, it could be small details like if the realtor is only helping with the open house and closing, but not with marketing. Less work equals less pay.
Don’t sweat the small stuff Who gets to keep the chandelier? Who pays for new appliances in the kitchen? These details are small - don’t let them make you take your eyes off the prize. You want the house first, and the details can be taken care of in other ways.
The Salt Lake City Home Buyer blog offers a tremendous list of the best ways to approach specific situations. This can be an invaluable tool for FSBO sellers or buyers with no agent representation. In all successful negotiations, it’s important to be fair to both sides, but at the end of the day, confidence is the key.
