So, you have officially found your dream home, but are hoping to negotiate on the price that it is listed for. Do not fear – negotiating is extremely common and is something that everyone should get experience and become skilled with. When it comes to purchasing a home, chances are if it is a great location and deal the seller will receive many offers. It is your job to ensure that your offer stands out among the crowd, and that you are able to negotiate with the seller so both of you feel at peace with the final deal. Here are a few negotiating tips that you can take into consideration next time you are bidding for your dream home:
- Let the other party speak first. When it comes to negotiating, before you lay what you are looking for all out on the line, it is important that you let the other party speak first so you can get a feel for what you are working with. Once you know their offer, you will be able to strategically move forward based on what it is that you are looking to get.
- Listen more, talk less. Listening is imperative to successful negotiations. If there is an awkward silence, wait until the other person breaks it. Chances are, both parties are feeling uncomfortable, which will increase the likeliness that their offer will change.
- Have all the information that you need. Before entering into a negotiation, be sure that you have all of the information that you need to. Know exactly what it is that you are looking for, why you are looking for it and how you plan on achieving that.
- Leave your ego at home. Negotiations are all about compromise, which cannot be done if you have a huge ego throughout the process! Understand where the other party is coming from and do your part to hopefully meet somewhere in the middle.