Negotiating to Yes
Everyone wants a win-win agreement, but no one should feel bad if they get a better deal than the other party. Negotiation is more than luck and talent, its about skill, ability and technique. You should always try and get the best for you and having some tips on how to successfully negotiate could help you out.
The first major tip for the negotiation is to start off with a fair selling price and buyer offer. Overpricing your home will turn away buyers and make them not trust you. Your asking price should reflect the market value of your property.
During any negotiation it is important that you respect the other person position. Knowing what’s important to them can help you avoid any sensitive issues and therefore stopping any alienation on your part. Always empathies with them and try and come to an amicable conclusion. If, for example, the buyer wont pay the exact asking price, maybe they can be persuaded to pay the transaction costs instead.
Respecting the other party isn’t just about understanding their position; it’s also about accepting compromise. The term win-win, doesn’t mean everyone gets exactly what they want, but moreover a compromise with everyone walking away reasonably happy. In the negotiations, focus on your priorities, and don’t let your emotions override you and your judgment.
During any real estate negotiation, something to bear in mind is that you may, sometimes, have to meet the other person in middle ground. If you find you are not reading on the same page about who shall pay what costs then you may think about splitting the difference etc.
One thing that maybe useful to understand is that if you can get the main agreement sorted out, regardless of if you are still wrangling about other details, such as furniture rights and fitting etc, then you should try. You can resolve all other details later, but get the bulk of the contract sorted out, so that you can proceed with all the other issue that need to be addressed before you can continue. This method allows both sides to identify and set essential areas of an agreement, then move ahead toward a fair compromise on other terms and conditions.
A final tip is to not be afraid or stubborn as to ask for advice when it is needed. Realtors tend to be very experienced at negotiations and will be more than happy to help you through he tough times. They know how the real estate industry works and have established track records of bringing sellers and buyers to an agreement, which can only be a benefit to you.
