The article highlights key negotiation strategies for property buying, such as controlling emotions, understanding market cycles, and doing thorough research. Buyers Scout suggests building rapport with agents and staying mentally prepared. A professional negotiator, like a Buyer’s Agent, can significantly improve outcomes, saving both time and money by securing the right property at the best price.
Property negotiator tips to help you buy the right property for the right price
To get a property at the best possible price, you need to treat the process as a professional property negotiator would!
Do you remember when you last negotiated a price on a property? Were you prepared? Did you know the market value of the property – or did you end up paying too much? Did you know that you can negotiate on a property which goes to auction?
Here are some tips on how to negotiate property price:
The biggest misconception is that it is all about the outcome, but a professional property negotiator knows that it is all about the process.
1 – Negotiation doesn’t start with putting in an offer.
It starts when you first call the real estate agent, or inspect the property the first time.
Remember, agents are trained to read the emotions of potential buyers. So, if you wanna screw up your negotiation potential, show emotion at an inspection in the presence of the agent!
2 – Rein in your emotions.
Emotion and excitement can lead you to talk a lot – but unfortunately this usually means that you give away too much information to the agent. This will have a negative impact on your position, and make it harder for you to control the negotiation process.
Remember that a real estate agent is usually a highly skilled and experienced property negotiator; they have been trained to watch you carefully, and listen closely, in order to take control of the situation.
3 – Understand the market cycle.
While property negotiation tactics will vary for auction, public treaty or when dealing with the vendor directly; ideally, you want to have speed in the sellers market, and the ability to prolong things in the buyers market.
4 – Due diligence.
The same applies to due diligence. You want to have clarity before agreeing on a price, particularly when the market is seller focused. Having the facts about things like zoning and future development potential, or if any additions to the house have been approved, will all help to give you the edge when negotiating.
5 – Be mentally prepared.
It’s important to leave the emotions at home when negotiating on your dream house. Your body language, your reaction and your tone might cost you thousands if you are not mentally prepared.
6 – Establish a good rapport with the agent.
You will also be in a better position when you establish a good rapport with the real estate agent. They can be a valuable source of insight, for example, so you can understand the vendor’s motivation for selling and the level of interest in the property.
As you can see, it can be a real challenge. If only you had a professional property negotiator to do the hard work for you! The good news is that you can engage a Buyer’s Agent to fulfil that role for you.
We are your Expert Property Negotiator
As a Brisbane buyers agent, we understand and can employ these and many other tactics we have developed as a property negotiator. We are experts in market values across the Brisbane area, and are able to be more objective when negotiating a purchase on your behalf.
Put together, these ingredients give you the confidence and the strategies you need, to buy the right property for the right price – likely saving you thousands of dollars too.
Get in touch with us today, and discover how a professional property negotiator from Buyers Scout can save you both time and money!
Call me now on 0420 472 544 or book a Free Discovery Call!
