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Negotiation is Really an Art in Real Estate – Simple Things You Must Know.
1> Mind Your Posture:
Never take an adversarial or even aggressive posture in ANY of your interactions with real estate agents, buyers or sellers. Actually, just the opposite, you must be easy to get along with and easy to talk to. BUT NEVER FORGET that you are there for one reason; to solve your real estate needs whether you are buying or selling.
2> Timing Your Information:
Always know that, while you are negotiating the deal, every piece of information that you provide to “the other side” should be carefully put on to the table at just the right time, spoken in just the right way and designed to improve your position in the transaction.
3> Rehearse Before You Close A Deal:
Experience has shown that the “art of negotiation” is not just a simple exchange of words, but rather a continuing effort. You must remember every action that you take during the entire transaction beginning with ‘submittal of offer’ to ‘closing the deal’ that is part of the negotiation. You would have seen many real estate transactions where the Buyer or Seller got past the “Offer and Acceptance” phase and then acted like the deal was done. Exercise caution – while there is an effort to quickly wrap up a deal by mincing words. Don’t give up your position too early, don’t make unnecessary concessions, and don’t compromise without a gain. You may read point 3 again & again or daily, until it registers in your memory – nobody is stopping you.
Ask Right Questions While Negotiating A Real Estate Deal
– Article by Suman Adithya Rao (SEBI Certified Research Analyst, Management Graduate in Entrepreneurship & Small Business Management)
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