For some of us negotiating on a home will be the first time we have had negotiate…ever, so no wonder it is a little daunting. And I would be lieing if I told you that it isn’t; emotions are flying high, the numbers are big and the dream is getting closer.
The good news is we have rounded up our top tips when negotiating; and we reckon if you have ever sold anything in your life then you will do just fine. In fact, we reckon negotiating is pretty much just selling – flipped on its head.
Find the hook
A salesman will always look for a hook, something of offer you incredible value which results in you wanting; no! needing to buy.
Opposite: Many people think the opposite of this is to point out all the things “wrong” about a property. To be honest, this falls on deaf ears – the agent isn’t about to go back to the owner and let them know everything “wrong” about their property.
So, in fact the opposite will be knowing the value of buying and the value of losing the property. Once you know that you will be able to walk away with confidence. You never know, the fear of losing a buyer might just bring the running back.
Provide them evidence
When selling we understand the local housing market and local community – then understand the buyer. The ability to convince the buyer on the property value and benefits to them of the house you will increase conversions.
Opposite: This isn’t rocket science – as a buyer you need to do the same! Don’t be caught by surprise when they start talking about local schools, or distance to shops – know this information. But, more importantly use online resources to know the property. You can find re-sale information not only on your property, but properties within the local area to compare.
People buy on emotion
You know what, this is 100% correct. As humans we make buying decisions on emotions, so a good salesman will heighten these positive emotions to get an edge at negotiating.
Opposite: One of the main reasons a seller doesn’t sell their own home is because they want to take the emotion out of the conversations. Just as an agent acts as a 3rd party, you can find your own. My wife negotiated my first home, whilst I was the one to negotiate her car. Give them your limit and find someone willing to negotiate for you to take out the emotion.
- Date - August 1, 2017