How to Negotiate With Real Estate Agents
There is a lot more that goes into this process. If you want to successfully negotiate with real estate agents, here is some advice to assist you.
This applies to any situation, but especially if you are going to an auction. Make sure that you know the maximum amount of money you are prepared to spend. What type of house are you looking for? How many bedrooms? You should know exactly what you want before you get there.
Understand The Process
The property transaction process is not a simple one. If you don’t understand it you are likely to end up paying more than you should. Remember, real estate agents are not your friends. Yes - they want to see you get your dream home, but their ultimate goal is to make as much money from each deal as possible.
Make sure you have done your research about the property, why is it on sale? What’s going on in the area and what is the condition of the market at present.
Know Your Range
Never go into a negotiation without a range in mind, if you don’t have one ready, the agent will give you one. This is what you want to avoid, you should be comfortable with the figure you are going with. It’s not always a good idea to go in too low, and obviously you don’t want your range to be too high either. This is why it’s important that you do your research about potential properties you are interested in beforehand.
Again, when you have done your research and you know what you are talking about, you are going to walk into the negotiation process with confidence. Regardless of whether you are putting in a bid at an auction or talking face to face with an estate agent, confidence is important. The way you project yourself and your body language all play a role in the success of the negotiation process.
Don’t be Led by Your Emotions
Buyers have a bad habit of falling in love with the way a property looks. This is dangerous, it might look like your dream house on the outside but there are a host of problems in the places that you can’t see. This also leads to buyers paying more than they should for the property because they are so desperate to purchase it.