deal possible, and only one can “win.” Negotiating well is among the most important professional services that working with a real estate agent offers. There are so many areas in a Real Estate Contract that can be negotiated out to make or break a deal. However, by learning how real estate negotiations work, understanding the areas in the real estate contract that can be negotiated, and how to apply appropriate techniques, you can get the price and terms you want from buyers.
Know More Than Your Buyers
The two major elements of negotiation are motivation and skill . A motivated buyer wants the best deal, and you, the seller, want the best price. A skilled negotiator is an expert at working under the pressures of competition, time, information, and communication.
What Motivates a Flipper to Sell?
• Time on the market • Pressures of maintenance and upkeep • Emotional and mental stress
Selling your flip is a multifaceted process. The key to a strong negotiation is keeping your emotions in check. You don’t want to end up settling for a lower price because you let your emotions get the best of you. Worry is a powerful motivator, and if you’re in a constant state of anxiety about the mounting holding costs, you’ll feel the pressure, and it can wear you down. Also, finding the right buyer can be mentally and emotionally exhausting. Knowledgeable buyers can — and often do — push you to the limit to get the price they want, especially if they sense that you’re desperate.
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