Every buyer, every seller and every agent has their own style when it comes to negotiating an offer to buy or sell real estate. There are books written on the subject. Radio shows. Even infomercials. But when it comes to the negotiation process I think there are two things to keep in mind;
- You get better at negotiating the more you do it. So in many (or most?) cases it is good to go with your real estate agent’s instincts.
- The more the other side will tell you their motivations, the more leverage you can produce.
NOTE: There is a huge difference when negotiating a primary residence versus an investment property. Huge. So the techniques for one don’t necessarily translate to the other.
Therefore my advice is to be more concerned with what the other party is trying to accomplish. People always think it’s the sales price. Well, not necessarily. Why do they want that sales price?
Your thoughts on negotiating are welcome.