Living in the Bahamas
29 Mar
Please wait...
21 Oct
The Art of the Negotiation Game
Are you looking into a new piece of real estate? Want to sell or purchase a home? If the answer to those questions is yes, then there is one more question to ask. And that is, "Do you know how to play it cool in negotiations?"
According to dictionary.com, the word negotiate means:
"to deal or bargain with another or others, as in the preparation of a treaty or contract or in preliminaries to a business deal."
That said, when referring to the word "negotiate" in a real estate deal, one should prepare to bargain to arrive at the final agreement. Well, that is relatively obvious. How to do it is altogether another art form.
The negotiation stage follows the phase where you are just beginning to look and deciding what is and is not essential to you in that piece of property. That is where some buyers get into a pickle (personal experience, here). If you tend to be a "Chatty Cathy" or an open-book type, you may need some coaching on the what not to say, or how to "play it cool" when looking at a home.
Play It Cool
What we mean here is don't give all the details of your home search up in the initial phase. It would help if you had some "tricks up your sleeve" or “held some cards back,” as they say. The game of negotiation is one of give-and-take, then do it all over again. So be sure you have something left to give in the end.
Here are a few things not to reveal at first.
So, when you are walking through a property, remember one vital phrase, Play it Cool! This process is a negotiation to the very end. Your real estate agent and your bank account will thank you.
CITED:
Dictionary.com and slightlyunconventional.com