Negotiation 101

Purchasing a home in Greenville South Carolina

Negotiation 101 Close

Negotiation 101

Posted by Eddy Kicker on Wednesday, February 4th, 2009 at 1:13pm.

Prior to starting my career in real estate, I was a buyer in the building material industry for over 20 years. During that time I defined and honed my negotiating style and strategy and found that like most things, the KISS (keep it simple stupid) method applies and most certainly holds true in real estate negotiations.

Before making the offer, determine what the "realistic and acceptable" end result will look like.  This will entail determining what are the most important aspects such as price reduction, closing costs, home warranty paid by seller etc. The key is not to ask for concessions on many different fronts as the seller will become confused and be less likely to ever get to your targeted end result.  Keep your "points of negotiation" to a minimum. If price is the most important, attack that based on comps, market condition, days on market or other factors and don't muddy the waters asking for things that aren't really important to you because if you do, you most likely will not get the concession that is most important.

Buyers will say, "let's just low ball them and see what they do." While no one should ever take negotiations personally, this strategy rarely if ever will get you to the desired results. Stay focused on what is important to you and you will almost always have a successful negotiation and thus a successful closing on your new Greenville area home.

Leave a Comment