How to Negotiate in Real Estate Transactions

Everyone negotiates everyday…with their significant others, bosses, clients, their kids…kids are EXCELLENT negotiators! When it comes to negotiating in real

estate, however, it takes a professional. After all, this is a major financial decision and there are a lot of factors in play. There are several times throughout a

transaction that I work to achieve my client’s goals and wishes through negotiation.

 

There are lots of different styles of negotiation, from the “my way or the highway” approach to the passive “whatever they want let’s get this done”

approach. I have found that in real estate the win–win approach is most productive and has the most success. My goal is to make sure that everyone

leaves the transaction feeling like they are satisfied. I start by asking a lot of questions and listening closely. People will tell you a lot if you keep quiet and listen.

By collecting as much information as possible and then weighing it all out I’m able to craft a strategy that will, ideally, have both parties feel that their Most

Important needs are being addressed. In residential real estate this is especially important as these transactions are

about people’s lives, their families, their homes. There is a lot of emotion attached to HOME.

 

If we can achieve a feeling of win- win that creates good will and helps tremendously throughout the transaction. Buyers never know when they

are going to need something from the sellers and sellers may indeed need something from the buyers. For example buyers may need more time on

their contingencies or a seller may find out they could really use a leaseback. Even after escrow closes the sellers may need an important letter that didn’t

get forwarded or the buyers may have questions. In my experience, working through the transaction with these ideas in mind

leads to a sales experience for my clients that is less stressful and often …. dare I say … even pleasant!

 

I’d love to know your thoughts.

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