Negotiating on a Home Purchase, TRULY an Art Form…
Real estate is a tough business. It’s even tougher to negotiate a deal. It’s even worse when you’re having your arm twisted by a stubborn Realtor on the other side of the deal, lol! You need to make sure you always hold your ground with your agent to negotiate FOR you, and if not, well, you need to get a new Realtor.
Sometimes, there is truly an art to successfully negotiating your home purchase. Like Kenny Rogers said (insert music HERE) “You gotta know when to hold ’em… know when to fold ’em… know when to walk away, know when to run. You never count your money when you’re sittin’ at the table; there’s time enough to count it when the dealin’s done…”
Depending on which side you’re on, don’t be too quick to show your cards! Show the seller that you’re in love with their house, they’ll hold out for fulpurchase price. Show the buyer that you’re desperate to sell, you’ll lose your pants. They’ll lowball you and hold out till you buckle. Negotiating a deal is all about having a poker face. A REEEEEEALLLY GOOD ONE.
Now, notice that when I quoted the song above, I could have stopped after the word “run,” but i didn’t? Well, for all the negotiation you’re worth, sometimes the deal dies anyway. One poor woman at my office, one of the coolest people there, is on her third re-negotiation on the same property! Still hasn’t closed yet! On a short sale negotiation, even if the buyer and the seller negotiate a deal, now you gotta negotiate with the BANK. You know the saying, it ain’t over ’til the…. ??? No truer words when it comes to a short sale…
That being said, if negotiation ISN’T one of your strong points, I strongly suggest that you find an agent that’s a trained professional at it. You need somebody to be in your corner. Good comparables for the deal are a must have for truly accurate argument of asking price. And lastly, BE PREPARED. Sometimes, it’s good, sometimes it can be bad, and it can potentially get ugly. But you want that house, so be prepared,be patient and trust your agent.
THIS is one of my FAVORITE spoofs of the art of persuasion, I mean negotiation, lol! Enjoy!
About the Author: Christine Gerbehy is a Realtor for Berkshire Hathaway Fox & Roach Realtors in Northfield, NJ. and is e-Pro certified. Realtor, writer, blogger, wife, mother and zookeeper, I LOVE what I do. ALL of it. Let me help you to buy or sell your property, ’cause This Mama Sells Real Estate!