In real estate, negotiation is inevitable. If you’ve ever bought or sold a home (or a car), you’ve probably gone through the negotiating process, so here are some basic things to do during negotiations to help you end up with the result you’re looking for:
1. Never act too excited. Whether you’re a buyer or a seller, revealing your true excitement about the contract gives the other party power over you. Maintain your cool so that you don’t tip your hand—even if you are extremely excited.
2. Knowledge is power. Use your knowledge of what’s going on in your neighborhood or surrounding area to your advantage.
“The best way to negotiate is to make both sides feel as though they are winning.”
3. Trust is learned—don’t break it. Be honest with the other party; if they ever find out that you aren’t being honest with them, you’ll lose all credibility. It is very difficult to redeem that in a real estate transaction.
4. Maintain a ‘big picture’ mentality. Sometimes, people can get caught up in details that ultimately don’t matter. Look at the bigger picture of the transaction and consider if what’s being asked for is worth the stress and tension.
5. Create a win-win transaction. The best way to negotiate is to make both sides feel as though they are winning. Just because the other party is getting what they want doesn’t mean that you can’t as well.
If you need any assistance buying or selling a home and would like our negotiation expertise on your side, don’t hesitate to reach out to us anytime. We’d love to hear from you.
