The "Ego Wall" When Negotiating Real Estate

I just finished reading a great post over on UrbanDigs regarding his particular strategy concerning negotiating to help his clients receive the lowest price possible when purchasing their property. It’s a good read and has sound thinking behind it. Worth your time.

My only concern is that I have found over the years that there is an imaginary Ego Wall that exists and you do not want to get crushed by it.

What am I talking about? Well, it has been my experience that there is a point at which a seller will negotiate in good faith and a point at which he will be insulted, challenged (or any other word you would like to throw in) to the point that he will be less malleable towards making the lowest deal possible to get the transaction done.

And just like Noah (as a buyer’s agent) doesn’t know how a seller will react or where he will go on his counter offer (if he even offers one once he’s been put off) I seldom know either when working for the seller. As Noah correctly points out almost every seller comes with their own unique set of circumstances and goals.

So while I understand, support and have used the low ball strategy I also caution my clients that when you low ball it still must be reasonable. Because it is my belief that once you make the seller an enemy you may have cost yourself money.

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Filed under Cool Sites, Misc. Real Estate

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