Real Estate Negotiations Should Be Handled By a Buyer Broker or An Expert
As your Buyer Broker, we are in your corner, your advocate, we don’t owe allegiance to anyone but you the Buyer.Their will be no conflict of interest. We will attempt to learn the seller’s motivation for selling, divorce, foreclosure, retirement, how long the home has been on the market etc. We will try to find out their bottom line price and any deadlines they are trying to meet.
We will tell you about the negatives of a property – not just the positives. We are not your salesperson, you will not be “sold” a house. We work as your consultant, unbiased advocate and professional negotiator. There will be no dual agency as permitted in traditional real estate firms and subject to conflict of interests. We will not go into the negotiation with a combative strategy. We will have creative solutions and trade offs. We will not respond emotionally. The value of trust in a negotiation cannot be overstated. Most people are fair minded. It is valuable to develop rapport because trust increases your leverage.
A market analysis will show recent sales for the neighborhood, which is the best way to establish the offer price. It is usually counter-productive to offer so low that the seller will automatically reject the offer. This will set a negative tone, and may result in an emotional response from the seller. Letting the seller know what you need, in a clear and reasoned way, is the first step toward getting it. Negotiating a successful real estate contract requires communication skills and the ability to create an environment of cooperation. The results of a poor agreement may come back to haunt the parties after closing. We will justify the price of the offer, repair requests and other points by outside data, such as reports from the home inspector, market analysis, etc to show that the proposals have not been made unreasonably. Both buyer and seller are under pressure, with future plans at stake. We can act with integrity without putting all our cards on the table.
We will require a short window of time for the seller to respond to your offer. We will require a through home inspection by a firm that is not liked very well by the selling agents. We are not interested in just a sale, we want to make sure that you get a good home that want cause you much unexpected trouble. A through inspection will also help you determine if the home is in the condition represented by the seller and as a home buying expert, we will be ready to renegotiate should there be repairs needed or a request for a credit to cover repairs. Be prepared to walk away if you cannot strike a deal. It is a good way to test your resolve about the value of the house. We have already advised you to find at least two homes, preferably three homes that satisfy you to improve your bargaining position for your first choice home. This would be a good time to consider plan B, C or D.
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