Don't Start What You Can't Finish
"CONGRATULATIONS ON YOUR PURCHASE!"
That’s all I can say to so many clients that reached out for my advice initially. The ones who chose to go it solo in negotiations and who then call me to say “I bought the house but I feel sick that I overpaid”.
What else is there to say in that situation ?
Don’t be that buyer. Leave it to an expert who you were smart enough to contact initially. Having already signed on the dotted line, there is literally nothing I can do to change that after the event.
It’s this next problem though, which occurs all too often and is one that can and should be avoided by buyers.
Trend: Buyers come to me having made offers that haven’t concluded
Problem: Damage already done, difficult to unwind & to win
Result: Buyers either miss out or overpay
The best way for Hello Haus to add value to your property buying journey is to have us by your side from the start and in control of the negotiation.
When you disclose to the selling agent or owner what you think the home may be worth you’re making it very hard to unwind at a later date should the need arise. Worse still, if you start negotiations thinking you can do it, however, unable to clearly communicate your position - you are simply making things worse for yourself by leaving the door open to competing buyers.
Real Estate Agents are trained negotiation specialists, they are dealing with buyers and sellers all day in their role, with the best agents training daily using scripts and dialogue to extract an emotional premium.
Good agents will make you feel like they are on your side, making the process of offering easy, don’t be fooled by this - they are guiding you to the result they want.
It’s essential to have a negotiation strategy before you start, have an end price clear in your head and the confidence to navigate the buying process. Negotiation is a learnt skill, so if you are inexperienced buying property, outsource this to experts who do this everyday and have done so for decades with exceptional results.
So, what’s key to controlling the negotiation? I have a few biggies:
- Knowing what questions and to ask and when
- Listening intently for clues
- Using specific words or phrases to indicate a strong position I’m taking
- Moving at speed
- Not being afraid to walk away
Confident you can handle all this, go for it! If you have any doubts, employ the experts who know the tricks and game playing to ensure you land the right property at the right price.