How To Negotiate A Real Estate Transaction
In a day of passive aggressive communication through email and text, the value of face to face negotiation is almost non-existent (ie… online estimates and Carmax). However, it is vital when negotiating your home sale that you have a strategy to achieve the result you are looking for.
1. Always negotiate verbally, either in person or on the phone. There is simply too much lost in translation when using email, text, or simply faxing a document (what is fax machine?). It is important to convey conviction and confidence with your offer. Even if it is no where close to what is being asked for. Avoid phrases like “would you be willing to…”.
2. Instead of using language that conveys flexibility, share bottom lines. You will remove most of the nickle-and-dimming and get to the bottom line quicker by stating your best offer early on. I will typically convey this by saying something like, “I wish we had more flexibility but our budget will not allow us to go beyond this amount. Therefore, let us know if you can agree to these terms or if we should move in a different direction.”
3. Be nice. Being an effective negotiator does not mean that you are rude. An offer conveyed with kindness and strength is a winning combination that will take you all the way to settlement without continual power struggles.
Go forth and win!