could be taken advantage of by the seller and listing agent, who both want to sell that home for as much as they can, while you want to get a deal. This is too tricky to try to negotiate alone.
DO Prepare Ahead.
Arm yourself with research. Knowledge is power. Review comparable home sales (“comps”) in the area to see if the listing price is reasonable. Whenever possible, visit these homes in person to assess their condition—this gives you context and leverage. Also, research local market trends: is the market favoring buyers or sellers, and how have prices shifted over the past few years? During negotiations, sharing that you’ve done your homework—casually and professionally—signals to the seller and listing agent that you are an informed buyer, which strengthens your bargaining position. Don’t shy away from showing that you’ve done the research; it works in your favor. Once you and your agent agree on an offer, your agent will present it to the seller or the listing agent. Negotiations may go back and forth until both parties reach a mutually acceptable agreement.
DON’T Make Assumptions.
Real estate deals can fall apart at the last minute more often than you might expect—even after contracts are signed. Avoid making any assumptions. Don’t assume that “everything will work out,” and never make an offer or accept a counteroffer that exceeds your maximum budget.
Be prepared, be informed, and never make assumptions.
DO Ask Questions.
122
Powered by FlippingBook