Real Estate is a tough, competitive industry, whether you’re an agent, a buyer, or a seller. As happens in life, there are those with integrity and those without, and those motives impact your transactions whether you like it or not. For buyers to navigate these waters smartly, there are several vital tools to have on board, one of which is negotiation.
The best thing a buyer can do is get a professional in their corner to help them navigate these choppy Real Estate waters. An Accredited Buyer Representative (ABR) is a sea captain, sail, and compass all in one. You’ll be informed, protected, and valued as a person. You’ll be served, not sold.
If you still plan to set sail on the high seas of Real Estate on your own though, I’d like to at least send you off with a few tips on Real Estate negotiation. There are a lot of elements to negotiating, like drafting effective offers, collecting all the necessary information, and generally knowing what one needs to know.
Here are a few tips to get you headed in the right direction with your Real Estate Negotiatons.
Be Prepared: It’s More Emotional Than You Think
Buying and selling homes is a strange mix of business and personal. We’re buying and selling homes – places where families create memories and express themselves through décor – yet we are also negotiating a transaction. To walk the line between guarded browser and compassionate human being is tricky, tricky, tricky. (Which is probably why there is a whole industry assigned to mediate these deals)
Try to leave your emotions at the shore – don’t get attached to the house, the people, or your desire to compete. Instead, look at it as “just a house” from your own purchasing perspective. The less emotionally attached you are, (while still respecting the emotions of others) the more logical and effective you’ll be in the process.
Risks, and Other Ways To Accidentally Cripple Your Transaction
This is where what you don’t know will bite you. You’re the swabby among captains. You’re outmatched, it’s that simple. You won’t win with tactics, but with some knowledge and understanding, you might be able to defend yourself against the unforeseen.
Predators: One of the Risks Of Sailing Alone
Ways To Accidentally Cripple Your Transaction
If this describes you during the buying process… you might want to make some course adjustments
Other good advice
Interviewing an agent – What to Ask (and not ask)
These tips are helpful, but the safest, most effective (and painless) way to buy a house is with your own seasoned Captain of the high seas, and ABR. Why? These are people who sought out specialized training in how to excellently represent buyers.
When you work with an ABR, you’ll be served, not sold. Your interests become their interests.
You can expect your ABR to:
- Understand your specific needs and wants, and locate appropriate properties.
- Preview and/or accompany you in viewing properties
- Advise you in formulating your offer
- Help you develop your negotiating strategy
- Provide a list of qualified vendors (inspectors, attorneys, lenders, etc) for other services you may need
- Keep track of every detail throughout the transaction-to-closing
When you have bought in the past, did you use an agent, or go it alone?
Would you do it again?