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5 Negotiating Tactics That Kill A Deal
5 NEGOTIATING TACTICS THAT KILL A SALE
Negotiation is a subtle art in real estate, but skilled negotiators can usually find some common ground that satisfies all parties. On the other hand, using the wrong negotiation tactics can sink a deal pretty quickly. Here are some negotiation tactics for buyers (and real estate professionals) should avoid:
Lowball offers: Going far below market value when you make an offer damages your credibility as a buyer and can be insulting to the seller. The seller has a range in mind that they’ll accept, and if you’re not even approaching the low end of that range, they won’t even consider the offer.
Incremental negotiations: Don’t continue to go back to the seller with small increases in your offer ($1,000 or less). The constant back-and-forth can grow tiresome and lead the seller to consider other opportunities.
“Take it or leave it”: Try not to draw a line in the sand with your initial offer. The seller can get defensive and consider other offers if you immediately show that you’re unwilling to budge. Even if it’s true, don’t make a show of it.
Nitpicking after inspection: Obviously, if an inspection reveals a major issue, it should be factored into the final sale price. But insisting on a lower price for every minor repair can put negotiations in a stalemate.
Asking for more, more, more: Some buyers will request that the sellers throw in add-ons like furniture or appliances that weren’t included in the listing. Try to avoid giving the seller a reason to build up resentment and think that you’re being greedy.
Often times, I refer to Bill as “the master negotiator”. Why? Because he is! We educate our buyers, as well as our sellers, in what works and what does not work. We provide a market analysis report, explaining what the value of the home is. Bill and I are thrilled to guide our clients through this process so they do not have to stress out over the details.
Call, text, or email to begin your process of purchasing or selling your home (or property). We are here to offer advice, answer questions, and get you on the road to the next step. We love helping people, so contact us today!
The DeFrees Group has over twelve years’ experience in the real estate industry, to include lending experience. Growing up and graduating from college in San Antonio, we have seen this vibrant city ....