negotiations and get the best deal and terms for your company.
KNOW YOUR MARKE UR MARKET AND USE THAT KNOWLEDGE
This should be a strength of your negotiations. You should already know this information going into this step and have it on hand. Your broker should know the area well enough to know what the going rates are. If you target a space that is slightly above those, this is how you can get that price down. Knowing the costs in your area is one thing, but putting that knowledge to use is another. It will be hard for owners to look at comparable prices and justify their higher ones. Send them real data that can’t be disputed. This way it should be impossible to get low-balled. This is one of the strongest aspects of negotiations you can use against an owner, since it is just a pure fact and not based on need or desires. If they are outpricing the market, then they should be outpricing you as a buyer. You may think that your broker has this knowledge, so you don’t need it. That’s not true. At the end of the day, you are in charge of the deal, and you need to have your own opinion on it.
MAKE SURE YOU HAVE REAL LE VE REAL LEVERAGE
Being in a rush or looking for the cheapest deal will guarantee you don’t have any leverage. You need to have at least one realistic choice that you would buy. This way you aren’t boxed into one deal. This is real leverage. This is why I keep stressing to start this process early. That way, you’ll have backup options. When you tell an owner that you
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