\The ability to negotiate successfully is crucial not only for
successful real estate transactions, but also for daily life events
in general. When negotiating for you, I always keep these rules in
mind:
Challenge the ideas that are presented to you
Negotiating requires you to be assertive and question what you are
being told. If you disagree with someone regarding the price, value
or condition, speak your mind. Of course, be sure to do so
diplomatically.
Become a good listener
Listening carefully and critically thinking about what you are being
told can prevent a considerable amount of confusion and ensure that
the negotiations run smoothly.
Be prepared
If you're buying, what exactly does the property have that could
take away from its value? What is community like? What is the
average selling price in the neighborhood? If you're selling, know
your property extremely well; you cannot allow yourself to be taken
aback by what a prospective buyer might say.
Aim high
If you're selling, try marking the price of your home about 5% above
what you would actually want. This will leave you some negotiating
space to come down. If you're a buyer, offer a price that is lower
than what you normally would; enter negotiations with the optimistic
attitude that the seller will come down.
Just a little patience
Relax. This could take a while.
Be diplomatic
Because negotiations may be a long and tedious process, it can be
very easy to get irritated. Getting frustrated with negotiations
that seem to be going nowhere will only perpetuate any difficulties
you may be having, and may even result in an end to all talks. Keep
your cool.
Be aggressive
While you don't want to be hostile, you do want to be assertive and
dominate negotiations. When meeting with the prospective buyer or
seller, be sure to try to take control of the negotiations. Talk
with a strong and confident voice, and be sure to have responses for
any potential arguments that may be thrown your way.
Don't get nothing for something.
Whenever you agree to give something, be sure to get something in
exchange. For example, if you are the seller and you agree to lower
the price, you may want to hold back on any additional goods that
you may have initially been willing to give away (like furniture).
Always give the appearance of being willing to walk away
Even if you are in love with the property as a buyer or are dying to
sell as the owner, never reveal your desperation. Always give the
impression that you will be willing to walk away.
Time is on your side
It's most likely that you and the other party are eager and
pressured to resolve the transaction. Acting calm and under control,
in addition to taking time to think rationally, will help you in the
long run. In short, just think before you speak.
|
