real estate, and not everyone has this skill. But real estate agents are trained in this department (among many others), so it’s vital that you hire a qualified and experienced agent to help you navigate the negotiating process.
DON’T Negotiate Alone.
Without an agent representing you at the negotiating table, you could be taken advantage of by the seller and listing agent, who both want to sell that home for as much as they can (within reason) while you want to get a deal (something affordable). This is too tricky to try to negotiate alone; hire a professional buyer’s agent.
DO Prepare Ahead.
There are several different ways for you to make sure that you are prepared for the negotiating process. First, you need to prepare yourself financially. We’ve talked about this before, but if you’re not prepared financially before negotiations, the whole deal could go south, and you could lose out on the home you were sure was “the one.” So, 1) find out how much you can afford, and then 2) make sure you’re pre-approved for a home loan. Then you and your agent can agree on a price, after which your agent will send the proposal to the seller (on your behalf), or the listing agent, who will then either accept it or present your agent with a counteroffer. The ultimate goal of this process is that the negotiations will go back and forth until all parties reach an agreement they are happy with. Second, do your research beforehand. Remember, knowledge is power! You will gain the upper hand in the negotiations if you come to the bargaining table prepared with research. What do I mean by research? I’m referring to items such as:
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