It’s vital to understand that both the buyer and the seller may forget the final goal: to buy and to sell. Sometimes, the parties get carried away in a negotiating battle. Lock your eyes on the ball, but simultaneously, be realistic in your expectations.
The following tactics will help you to stay focused:
• Use the “middleman.” When negotiating with the seller's representative, your real estate agent should be your middleman. Using him as a buffer will save you time and aggravation. He may also provide helpful information concerning the sellers and their intentions, which the other party will not disclose. • Wait for the “Big Boss.” A third-party person (preferably a lawyer) must see and evaluate the offer and provide expertise. This is a chance to lower the seller’s counteroffer and keep your position. In addition, you’ll make the seller wait. This could make the seller believe you’re considering ot her options. • Be curious. Asking questions may reveal valuable information from the seller. It might help to find the reasoning behind the house sale. This could be your priceless leverage if you don’t know it yet. • Consider a compromise. Be ready to give away something during the negotiation process. • Focus on the primary goal. Remember your main goal: to get the house. Sometimes, you’ll get stuck negotiating on minor details. It can be a good tactic to wait until you agree on the main points before proceeding to the details.
HOW TO AVOID MISTAKES DURING THE NEGOTIATION
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