dynamics and create a negotiation strategy for the situation.
I can't stress how important a skilled negotiator can be in putting a Real Estate Transaction together. It's amazing how many lost deals could have come together if the agents knew how to negotiate with skill.
LET TIME BE ON YOUR SIDE
Time pressure is inescapable in the world of sales. It is evident 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 to sell 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 and must sell before losing the property, the buyer has the upper hand. He knows the seller is under a time constraint and will use that, making low-ball offers or perhaps appearing indecisive or by not promptly returning calls and messages. 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 these situations apply to you. Eagerness to please them may be read as desperation. As licensed agents we have a fiduciary duty to not disclose to the buyers what the motivation to sell is, but some agents are not very tight-lipped. This is another reason why the handling of the negotiations is critical.
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