Tips For Successfully Negotiating A Real Estate Deal
- Author Charles & Kim Petty
- Published April 28, 2010
- Word count 547
One of the most frequently asked questions is “ how to negotiate for something?”
Many can't negotiate and a few think it’s below their dignity to negotiate. There's nothing wrong in saving money in a deal, is there? Well, instead of paying extra or being fooled for money in a big business or a real estate deal, you might as well negotiate and save some bucks. Everything can be negotiated it’s only the party with good negotiating skills that walks away with the best deal. Here are a few strategies for negotiation that can help you get a good deal. These tips can be used regardless to selling or buying any property.
Be a listener and not the speaker:
Many people say “we don't have the gift of the gab, so we can't negotiate”. Well, it’s a notion people carry! In fact, while striking a deal one should listen to the other party and get facts and figures out of them. If the party finishes their presentation, make sure you ask them questions persistently. With this your doubts would get cleared and you would gather substantial information. Don’t jump to any figure (amount) or conclusions unless you've spent enough time with the other party. Since this is the initial and the most crucial stage, you have to spend serious and sincere time with the opposite party in order for them to be serious and sincere too. This shows the amount of interest you are both investing in the deal.
Get emotionally involved with the opposite party:
This is one of the oldest and the most common methods used by old-time sellers and buyers. You have to take the other party in confidence and portray that you believe everything they say. Make them believe that you are the ultimate party striking the deal with them. This helps them feel that your the one they were looking for. With this, the opposite party opens up more and you get the exact picture about the person. Sometimes, it may happen that you come across a reluctant buyer/seller.
Fixing the price:
Most times it’s the seller who has to quote the price first. It’s actually very confusing for the seller specially so if he is new to the industry. If one is new and wants to strike a deal it’s advised he take some tips from a professional before starting. Actually, it’s best if a seller can influence the buyer to quote his price instead of quoting his selling price first. Thus, it’s advisable for the seller to learn skills to analyze the opposite party’s budget. One can learn this only after lot of practice, patience and interacting with different people.
Once you have disclosed the price, try not to budge, because you are looking for your profit and that’s why you've quoted the price. Again, there's another side to it, which is, you also have to compromise somewhere to the closest deal. You don't always get a perfect deal or a deal at par. Remember, with your slick and smooth talks you can make the party strike a deal at your terms and costs.
Virtual Real Estate Investing Experts Kim and Charles Petty have been
involved in over 700 real estate transactions in the last 9 years and
are the creators of the Ultimate Turn Key Virtual Real Estate
Investing Systems for investors all around the world who want to take
advantage of the awesome profit opportunities in today’s real estate
market. They are the worlds leading experts on Virtual Real Estate
Investing. Investors go to www.VirtualRealEstateInvestingProfits.com
Article source: https://articlebiz.comRate article
Article comments
There are no posted comments.
Related articles
- First-Time Renters in Mississauga: Essential Tips for Success
- How to Choose a Title Company: A Step-by-Step Guide for Real Estate Success
- How Architects Are Shaping Sri Lanka’s Real Estate Boom
- Directing Las Vegas Homes for Sale: How Live Better in Las Vegas Guides Buyers to Success
- Understanding the Renters' Rights Bill: Key Changes and Timeline Explained
- Costs of buying property in Spain - IMS Mortgages
- Three Easy Steps to Sell Your San Antonio House Fast!
- Discover Your Dream 55+ New Construction Home Community in the Greater Tampa Bay, Florida
- Article on Mortgage Lenders and New Homes Mortgage Helpline
- The Advantages of Utilising Professional House Removals Services
- Manilva: A Rising Star in Off-Plan Property Investments
- Comparing Removals services-in-wandsworth: Your Ultimate Guide
- Port Orange -- The Perfect Twin Sister to Daytona Beach
- RE/MAX Ace Spearheads Innovative Housing Solutions in the GTA
- Should You Waive the Home Inspection Contingency? Weighing the Risks and Benefits
- Avenir: Embracing Lifestyle and Community in Palm Beach Gardens
- Serbian Real Estate: A Tidbit for Investors
- Discovering Life in Pattaya, Thailand: An In-Depth Handbook for Expatriates
- DEBUNKING HOME REPORT MYTHS
- Don't Let a Financial Hardship Force You to List Your House
- Safe Water Starts at Home
- Don’t let Missing Insulation Lead to High Energy Bills
- Property Investors Amidst Favorable Swedish Krona Rates
- How Real Estate Professionals in Houston Go Above and Beyond for Home Sellers
- Reasons to invest in real estate in Cyprus
- Top 10 criteria to select an Insurance Claim Appraiser
- Comprehensive Home Inspection Checklist for Buyer, Seller, and Homeowner
- DEBUNKING HOME REPORT MYTHS
- North Carolina Real Estate Market: Shifting Market Dynamics on the way?
- Selling Your House in Winter: Effective Tips and Strategies for Success