Negotiation is a subtle art in real estate, but skilled negotiators can usually find some common ground that satisfies all parties. On the other hand, using the wrong negotiation tactics can sink a deal pretty quickly. Here are some negotiation tactics buyers (and real estate professionals) should avoid:
Lowball offers: Going far below market value when you make an offer damages your credibility as a buyer and can be insulting to the seller. The seller has a range in mind that they’ll accept, and if you’re not even approaching the low end of that range, they won’t even consider the offer.
Incremental negotiations: Don’t continue to go back to the seller with small increases in your offer ($1,000 or less). The constant back-and-forth can grow tiresome and lead the seller to consider other opportunities.
“Take it or leave it”: Try not to draw a line in the sand with your initial offer. The seller can get defensive and consider other offers if you immediately show that you’re unwilling to budge. Even if it’s true, don’t make a show of it.
Nitpicking after inspection: Obviously if inspection reveals a major issue, it should be factored into the final sale price. But insisting on a lower price for every minor repair can put negotiations in a stalemate.
Asking for more, more, more: Some buyers will request that the sellers throw in add-ons like furniture or appliances that weren’t included in the listing. Try to avoid giving the seller a reason to build up resentment and think that you’re being greedy.
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Specializing in Houston's Premier Inner Loop and near town neighborhoods the Museum District, Midtown, Heights and the Clear Lake area including Friendswood, Pearland, Seabrook, Kemah, League City. I help people buy, sell and lease the very best homes for their lives. I'm a fifth generation Texan and have lived and worked in the Greater Houston area all my life. The many spectacular neighborhoods,bustling cultural and business opportunities and warm welcoming people truly make this city feel like home. I focus on excellent client service before, during and just as importantly, after the transaction. Helping my clients in every aspect to make the transaction process as enjoyable and stress free as possible. I believe in giving back and offering a helping hand to people in need as an essential part of business and being a good citizen of the community. I'm very active in several organizations locally and volunteer Guardian Ad Litem with Child Advocates, Recipe for Success, and several other worthy organizations. I am proud to call the Greater Houston area my home. I'm here today and will be there in the future when you are ready to buy, sell or lease a home. If you need advice, a referral to a service professional or virtually anything else, I will be there for you, your friends or family. I'm never too busy for your referrals!