CHAPTER 15 The Dos and Don'ts of Negotiating 'ts of Negotiating
BUYER NEGOTIATION TACTICS
Buyers often employ various strategies to gain an upper hand in negotiations. Recognizing these tactics can help you stay composed and respond effectively. The lowball offer – Some buyers start with an unreasonably low offer to test your reaction. Instead of reacting emotionally, counter with a reasonable price backed by comparable market data. The “take it or leave it” approach – Buyers may claim their offer is final and non-negotiable. More often than not, this is a bluff. Stay firm and respond professionally. Pointing out every flaw – Buyers may exaggerate minor flaws to justify a lower offer. Have a pre-inspection report and market data ready to counter their claims. Bringing in a t g in a third party – Some buyers will introduce an outside “expert” (friend, relative, or contractor) who suddenly finds issues with the home. Stick to facts and avoid engaging in subjective debates.
THE ART OF COUNTER OFFERING
A well-crafted counteroffer can keep negotiations moving forward without conceding too much.
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