Real Estate Negotiation Secrets

Real Estate Negotiation Secrets



Real Estate Negotiation Secrets
When you bought your home, you offered less than you were willing to​ pay, right? That's the​ most common negotiation technique .​
For experienced investors, however, that's just one technique among the​ many more powerful ones .​
What else can you do?
How To Make An Offer
1 .​
Offer an​ odd amount, like $161,793 .​
This gives the​ impression that you know something the​ seller doesn't .​
They may think you have a​ good reason for​ that particular price.
2 .​
Play dumb .​
Ask questions, talk slow, ask for​ help, and​ never show off your real estate expertise .​
Sellers are afraid to​ budge if​ they think a​ smarter person may be taking advantage of​ them.
3 .​
Use the​ limited authority ploy .​
Say I'll have to​ check with my wife (or partner) .​
It's easier for​ sellers to​ accept that you can't do something, rather than the​ idea that you won't.
4 .​
Refer to​ precedent .​
My father bought his house this way .​
If the​ offer is​ at​ all unusual, sellers will feel more comfortable if​ they know it​ has been done that way before.
5 .​
Ask for​ things you don't want .​
This lets the​ seller win concessions when negotiating .​
If you can say, I​ guess I​ don't need the​ refrigerator, if​ I​ can get my price, you're more likely to​ get your price.
6 .​
Be reluctant .​
well, I​ don't know.. .​
Reluctance gets the​ seller looking for​ ways to​ motivate you, and​ lets him feel like he's won something when you settle the​ point.
7 .​
Make the​ offer their idea .​
Are you saying you'd like a​ later closing, and​ more earnest money? Well let's do it​ your way, then .​
I​ just need...
8 .​
Get a​ yes before the​ offer .​
What if​ I​ paid your price, but got my terms? Would that work for​ you? Even with a​ few changes, it​ will be hard for​ the​ seller to​ say no to​ an​ offer he more or​ less already agreed to.
9 .​
Flatter the​ seller .​
Flattery has been proven to​ be worth an​ average of​ $1962 in​ real estate negotiations .​
That's a​ joke, by the​ way, but you know if​ he likes you, you'll probably get a​ better deal.
10 .​
Pass over problems, and​ return to​ them later .​
Agree on every agreeable point first .​
It will feel like the​ house is​ sold then, and​ it​ will be difficult for​ a​ seller to​ lose the​ deal over an​ issue or​ two that you need to​ go in​ your favor.
You can spend a​ lot of​ time looking for​ cheap houses .​
Why not spend a​ little time learning how to​ purchase every home for​ less, with some smart negotiation?




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