Be sure to casually yet professionally include the information you’ve learned during the negotiations; this will give the seller and his/her agent the impression that you know your st uff , putting yourself in a better bargaining position. Th e more research you’ve done on comparable home sales and property conditions, the more knowledge you have, and the more prepared you will be. Knowledge is power, and you want to hold the power in the negotiations. Hiding the fact that you’ve taken the time to study comps, or not even bothering to do your homework ahead of time, is a big mistake that can not only weaken your bargaining position during the negotiation process, but can also cost you in the end, whether that means paying more for the home you want, or walking away from a potential sale. DON’T LEAVE YOURSELF VULNERABLE. Nothing shows “vulnerable” or “weak” like someone who is unprepared. If you come empty-handed and don’t seem to know anything about the market, about comparable home sales, about the property’s condition and history, then you’ll seem like an easy target to the seller and his/her agent and could be taken advantage of, leaving the ball in the seller’s court. You want it to be the other way around! Make sure you hold the power! Don’t leave yourself vulnerable. DO MAKE YOUR FIRST OFFER THE BEST OFFER. Part of making your fir st o ff er the best o ff er involves doing your research on several comparable home sales in the area, as well as the conditions of these properties. It also involves strategizing with your real estate agent on the amount you will be o ff ering, which involves a sign ifi cant amount of advance preparation and analysis. Look at it from the angle of using your own knowledge and factors in arriving at your o ff er, rather than merely “responding” to the seller’s listing price. Th e two perspectives aren’t necessarily related. 111
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