An important part of our job as Realtors is to help our clients to negotiate the best deal on a house. Your confidence and professionalism in this area will make your service memorable to your customers. Here are some strategies to help you guide your clients through the process of negotiation. 1. Constantly re-establish confidence.
Establishing trust between the parties is the most important strategy in any negotiation. Buyers and sellers know that the other party has interests that conflict with theirs. They begin with a certain amount of distrust each other. It is useful to prepare a report quickly. Show them that you and your clients will be reasonable to work with. Here are some ways for your customers to establish a common ground:
Communicate that they have a common hobby, the same type of work, moved here from the same area, went to the same college, have similar needs children or other relatives. Present evidence that your clients are qualified to buy the property.
If the buyer works for a well-known, which can increase the confidence of the seller.
Do not delay in your cons. Show respect for the time of the seller.
Communicate that the buyer likes the house.
Start the negotiation by the reporting. Then, continue to strengthen throughout the closing process. I noticed that buyers are often reluctant to show they love the house. They believe that an aura of disinterest will help their trading. I remember a transaction in which the buyers met the seller, and expressed how much they liked the house. During negotiations, the seller had several offers to choose from. Their offer was selected. The meeting of buyers with the seller, and openness about how they felt, gave them an edge. In addition, they were real people at the vendor, while the other offers are just paper. The seller trusted them to close the deal.
2. Do not get negative feelings involved.
If confidence is the most important factor in a negotiation, ego is the most destructive. Several times I have seen buyers include notes with their offers. They point out the faults and deficiencies, and explain why the house is not worth the price. I guarantee you that these buyers premium. The fact is, never run to the house seller. This will bring their feelings to the table. And negative feelings are an unnecessary obstacle to be overcome. If you have the opportunity, home sellers for the compliment, decorating and gardens. Remember that children are always above average, and their pets are practically human. During the negotiation, anchor your offering price of market data.
3. Play the same team.
It is important that you stay on the same team as your clients. A united front is a strong negotiating position. This may not be the way things really are. The woman may love the house but the husband wants to negotiate the price. You can not approve some of the terms of the offer. If you reveal a break in your ranks, consider selling your position of weakness.
4. Keep a grain of salt.
A healthy skepticism is a good thing in the negotiations. Not everything you say is true. How many times have you heard that the contract must be in the neighborhood, or the price is rising? The 1% bonus for contract this week means that you have to rush your offer? The price is really solid? Proposals like these show you what is important for the seller. The seller may want to close quickly and at full price, but on the other hand, the seller may want to close, period. I can think of several occasions when I'm the buyer's offer would never work, yet they received their mandate.
5. Understanding special needs.
Much of the negotiation is subtle. Small things make a big difference. Sometimes good deals go off track due to a difference in style or personality of the parties. An erroneous perception of the tone required may lead to a decline in confidence. Some examples:
Slower pace - The sellers were a couple in their 90s. As they have not left the house, the buyers met several times. Buyers have taken more time to sit and chat, and formed a strong bond. Saint floor - Sellers have a small grave of his dog on the property, where they have been very sensitive about. Buyers understand that, and sent word that they leave it in place.
For the Birds - The sellers have many bird feeders on the property. The buyers seized on this, and offered to continue to feed the birds.
Get a Grip - The sellers agent tend to give false information, do not handle details well, and was untrustworthy. To preserve the confidence of the buyer, it is necessary to check everything, handle paperwork, and time clocks.
6. Keep private things private.
The buyers may have questions that should be kept secret. They may have just sold their house, and the need to act quickly. They may need to start children in school. They may be in the midst of a divorce. They may have an interest rate that is about to expire. Not one of these pieces of information they find a better offer on a house. In fact, they all said they are under pressure. Your buyers should be seen as people who are very skilled, who truly appreciate this home, and can be trusted to close.
7. Getting good information.
Some questions to ask before you and your customers to dial an offer: How is the market in general? How are assets and other recent sales prices?
How long has the house on the market? Has there been any changes in price?
Did the house sell recently? What was the price?
Is there a time limit that must be met? Is a pre-or post-hire be desirable?
What is the value of the Assessment District? Taxes? The HOA dues?
Is disclosure available? An inspection of the property? Investigated?
Are there any offers scheduled, or on the table today?
The price is just one account in the negotiation for a house. Other terms, such as financing, the closing date, repairs or the date of possession may be equally important. Negotiating a home requires skill in giving and taking information and inform the seller that your customers are the best buyers for their goods. -
Rosalind Hejl is a Realtor with Coldwell Banker United in Austin, Texas. Her website - Austin Texas Real Estate - http:www.weloveaustin.com - Homes offered for sale, market trends, buyer and seller guides. Let Rosalind help you make your move to Austin, Texas. Austin Real Estate Guide