during antique auctions, construction job bids, and car sales.
Time is a powerful negotiation tool. Real estate agents advise buyers that a seller under pressure will provide the best bargain. For this reason, smart home shoppers will obtain as much information about the seller as they can get. For example, if a buyer knows a seller is in foreclosure/power of sale and must sell before losing the property, the buyer has the upper hand. He or she knows the seller is under a time constraint and will use that knowledge, to make low-ball offers. The buyer might also “play it cool” and not return calls and messages promptly, in an effort to spike desperation in the seller. Buyers look for time-sensitive situations to push their price. Sellers who are behind on mortgage payments, recently retired, or are under contract for another home dependent on this home sale are candidates for high-pressure tactics from savvy buyers. Buyers may come to you and ask questions to find out if any of
76
Powered by FlippingBook