5 NEGOTIATING TACTICS THAT KILL A SALE

Dated: 08/14/2018

Views: 204

Negotiation is a subtle art in real estate, but skilled negotiators can usually find some common ground that satisfies all parties. On the other hand, using the wrong negotiation tactics can sink a deal pretty quickly. Here are some negotiation tactics buyers (and real estate professionals) should avoid:

  1. Lowball offers: Going far below market value when you make an offer damages your credibility as a buyer and can be insulting to the seller. The seller has a range in mind that they’ll accept, and if you’re not even approaching the low end of that range, they won’t even consider the offer.

  2. Incremental negotiations: Don’t continue to go back to the seller with small increases in your offer ($1,000 or less). The constant back-and-forth can grow tiresome and lead the seller to consider other opportunities.

  3. “Take it or leave it”: Try not to draw a line in the sand with your initial offer. The seller can get defensive and consider other offers if you immediately show that you’re unwilling to budge. Even if it’s true, don’t make a show of it.

  4. Nitpicking after inspection: Obviously if inspection reveals a major issue, it should be factored into the final sale price. But insisting on a lower price for every minor repair can put negotiations in a stalemate.

  5. Asking for more, more, more: Some buyers will request that the sellers throw in add-ons like furniture or appliances that weren’t included in the listing. Try to avoid giving the seller a reason to build up resentment and think that you’re being greedy.

Blog author image

Thomas McNamara

I have been a long time Real Estate Investor; turning Pro a few years ago I have built a solid reputation within the Real Estate community by providing outstanding customer service along with negotiat....

Latest Blog Posts

5 Powerful Reasons To Own Instead Of Rent

Owning a home has great financial benefits.In a recent research paper, Homeownership and the American Dream, Laurie S. Goodman and Christopher Mayer of the Urban Land Institute explained:

Read More

Why An Economic Slowdown Will NOT Crush Real Estate This Time

Why an Economic Slowdown Will NOT Crush Real Estate this TimeLast week, the National Association for Business Economics released their February 2019 Economic Policy Survey. The survey

Read More

Excited About Buying A Home This Year

Excited About Buying A Home This Year? Here’s What to WatchAs we kick off the new year, many families have made resolutions to enter the housing market in 2019. Whether you are thinking of finally

Read More

Buyers Are Looking For Your Home

Buyers Are Looking for Your Home, NowSome Highlights: Existing home sales are currently at an annual pace of 5.32 million and have increased on a monthly basis for the last two months. The inventory

Read More