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Purchasing a property consists of many working parts but determining the strategy you use in a negotiation, can have a big bearing on the outcome.
And when it comes to critical, game changing information, we ensure a zero-wait time.
1️⃣ The Knowing-Before-Dealing Strategy: Having a few cups of chai with a seller can go a long way towards getting the buyer where she wants to go. Sellers enjoy dealing with someone they genuinely like.
Some buyers may get to know the other party and take note of what excites them about their property; or what they see as the greatest potential that exists to add value to the property.
When a known buyer comes to the negotiation table stating a couple of reasons why their lower offer is justifiable, property sellers are far more likely to take the lower price, happily.
2️⃣ The Let-Me-Show-You-The-Mirror Strategy: Many successful real estate negotiators believe that by focusing on each and every flaw that may exist within an asset, they can convince a seller that their property is worth far less than they are asking.
Going down this road can sometimes justify an offer which is considerably less than the asking price for the property. Sometimes it may work. Other times, it may blow the deal to smithereens.
3️⃣ The Let-It-Stew Strategy: Often times in a buyers' market, a property seller loses confidence in her ability to sell at her price because the property has been on the market for a while.
In such a scenario, when an initial offer is made by the buyer and the seller either chooses not to counter, or counters with a much higher asking price, the buyer can choose to let it die and come back again with the same offer at some point in the future. It works.To make this work, the price offered should only be a few percentage points below the seller’s bottom line. Typically, most sellers consider such an offer very seriously.