3 Steps to Successful Negotiations

12161928_sI get lots of real estate related questions throughout the course of my week and I thought I’d post them every now and then just in case its something you are thinking about too.

Here’s a good one about how to navigate the negotiations required for buying a home.

Q:  I’d like to buy my own home but I’m feeling overwhelmed about all the negotiations involved in the process.  Can you help?

A:  The goal of every real estate transaction I represent is to find a win-win agreement for both parties.  If buyers and sellers both feel they have reached an equitable agreement the whole process flows much smoother.

I’ve received specialized training in real estate negotiations and earned the designation of Certified Negotiation Expert. This training has helped me negotiate dozens and dozens of successful real estate deals.

Here are a few tips to help you feel like a negotiation pro.

First, make sure you offer a fair price.  Nothing turns off a seller faster than a “low-ball” offer.  Sellers feel insulted and are put on the defensive right from the start.  Nothing good ever comes from negotiating with a seller who feels insulted. On the other side of the coin, I coach my clients not to get into negotiations on a grossly overpriced home.  This will leave you feeling taken advantage of and emotionally exhausted.  Both the asking price and your offer should be based on current and factual comparable sales in the area. This can’t be stressed enough. I always carefully research and provide the most up-to-the-minute comparables to my clients.  Things change fast in Boulder County and last year’s or last month’s information is not the place to start  your successful negotiations.

Second, put yourself in the shoes of the seller and respect his/her priorities.  Try to identify with their motivations.  Then, examine your own. Some items can be negotiated others may need compromise.  I help my buyers know when we’ve encountered that compromise moment.  I’ll explain what is common and customary and when its okay to offer to meet the seller half way.  Sometimes compromise means you offer to pay half of some expenses or you modify your closing date, but in the end you’ll feel as if you have fairly compromised.  I always use a carefully worded addendum to the contract when compromises arise, this ensures both sides completely understand the agreement and there are no surprises later.

Finally, using an experienced Realtor on your behalf will keep you focused and emotionally disconnected during negotiations which results in a much better outcome.  I’ve made the art of negotiation the cornerstone of my business.  I work hard to understand the needs of both the seller and the buyer in the transaction, and can put those years of experience to work for you.

If you are thinking of selling or buying soon, and require expert and caring representation, please call me at 303-579-1617.

I am a Boulder County real estate specialist. Over the past three years, I have earned the distinction of being named a 5280 Five Star Realtor. This puts me in the top 7% of all Realtors in the Denver Metro Area for customer satisfaction. If you would like to schedule a buyer or seller meeting with me, please feel free to call me at 303-579-1617 or contact me by email.

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