How Do I Negotiate as a Buyer?

Helpers buyers How Do I Negotiate with sellers in Lathrup Village, Beverly Hills, Southfield, Birmingham, and other Metro Detroit areas

 

 

 

 

 

 

 

 

If you’d like assistance on negotiating from experienced real estate agents, call the Calhoun Team Realty (248) 905-1402 today! Since our agents are capable and reliable to our clients, we want you to feel the same way when you work with us!

 

Understand the Seller

When you negotiate a price on a home, you must know your seller and why he gave you a certain offer. Think the seller as a wrestling opponent in a ring. You must know his weaknesses in order to have the match in your favor. Similarly, you want to know the seller’s weakness, so you can get the price you prefer. How can you do that by negotiation? Think about this, the seller could have a lot going on in his mind. Maybe the housing market in his neighborhood is low. Perhaps the seller has found a job in a different city or has a new home there and wants to sell this home quickly. The seller might be fleeing from bankruptcy. You can obtain information in the local real estate market or the seller can easily give away some information without even noticing it.

Detective Work

The information that you’re looking for is out there. You have to go out there and get it! Here are some ways you can obtain information:

Compare the prices with similar houses or houses in the neighborhood.

You can talk to an experienced real estate agent (Call the Calhoun Team Realty today (248) 905-1402) about how long it’s been on the listings.

Look at a few real estate blogs (Help Center) and look at it daily.

Try understanding the seller’s tactics by contacting them or contact a trusted agent (call us today at (248) 905-1402).

If you really want to get a good idea why the seller is moving, try asking the neighbors. Not only will you increase your chances on knowing why the seller is moving, but you also get a taste of the neighborhood as well. Remember if you’re going to move there you might as well get to know your neighbors. You never know, you might want to sell your home too because of the same reason!

Be Realistic

Don’t aim so low on your offer (Unless it’s a foreclosure or it’s been on the listings for a long time) because the seller will not take you seriously and may take it as an insult. Just think about it, people love their homes, but at least they can sell it for a reasonable amount and you aiming at a very low price will be pointless to them.

Telling on Yourself

Remember the wrestling illustration? Just like your trying to understand your opponent’s weakness- well, he’s doing the same thing to you.

Interest Level

Don’t show a lot of interest into the seller’s property. Doing this will let the seller know that he doesn’t have the upper hand. If you do show a lot of interest into the property, you will let the seller know he can raise the value of the property because he knows you are going to buy it.

Having Options

This goes hand to hand with your interest level. When you negotiate on a certain property, make it clear that you have other properties you like as well. Don’t ever negotiate without having any other options. Because you may become desperate and overpay or waste your time negotiating that leads to nowhere.

By the way you will have the upper hand if you use an experienced agent (248-905-1402) to clarify to the seller that you have different options in mind.

Short Expiration Date

If you’re a serious buyer, then give sellers an estimate time to have an agreement with you and stick with it. This will give the seller pressure that he doesn’t want to miss out on a good offer and will reduce the chances of having competition.

Face Time (The Old Fashioned Way)

Sure you can negotiate on the phone or online (not a good idea) but it’s nothing like actually meeting the person face to face. Here you can see the person’s body language or facial expressions while negotiating. You can see if he is sticking to his offer or slowly moving towards yours.

Now if you decide you want your agent to negotiate for you, then the seller’s agent can make a request and the agents can negotiate from there. However, if your agent isn’t willing to assist you, then stop wasting your time with them and start working with real agents that are experienced with negotiation. (Call the Calhoun Team Realty today for experienced agents (248) 905-1402).

Stand Your Ground

After all the detective work you have done, you should have a reasonable offer for the property.
With that being said, prepare to defend your offer. There are times when buyers let the sellers corner them. To avoid this try not showing any interest level or have other options or hire an experienced Real Estate Agent. Beware though, because are some real estate agents that may want you to agree with the seller’s counteroffer so the negotiation phase can end quickly. Be ready and firm with your offer.

Do you want real estate agents that are diligent workers and patient to their clients? Call the Calhoun Team Realty today (248) 905-1402

Know When to Settle

You may not exactly get the price you prefer, but if the price is close to your end or highly reduced, then it’s up to you to take it or not get it at all and keep looking. If you have other properties to consider, then this shouldn’t be a big deal, but you don’t want the negotiation to get emotional or egos getting involved.

 

Want more tips or want assistance on negotiations? Call the Calhoun Team Realty (248) 905-1402) today, so we can assist right away.

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