Successful negotiations have common threads. Remember these tips to get the most out of your negotiation:
- Don't get insulted if the seller doesn't accept your offer or comes back with a high counter offer. It's natural for the seller to want to make as much as possible.
- The members of both parties should feel like winners in the end.
- Make your counter offer show movement. This demonstrates a willingness to deal.
- Make sure you understand the priorities of the sellers. Your counters can focus on the higher priorities. Those that carry less weight can be used to compromise.
- Quantify problems. Repairs or concessions should have a dollar value on them and not be left open ended.
- Isolate major issues by getting agreement on all other points. This allows the negotiation to be just one item away. Then all energies can focus on the one final obstacle.
- The earnest money shows how serious you are. Since earnest money is applied to costs at closing, don't scrimp on the earnest money at the time you write the offer.
- Make sure what you want is put in writing. Count on nothing that is negotiated verbally.
- Depend on your sales professional for negotiation counsel.