Most negotiations are emotionally driven.
If a negotiation turns into a struggle of power, then at this point you have lost control of the negotiation.
Successful negotiation is about creating a win win situation. Part of the process is building trust, understanding the sellers motivations and meeting their needs whilst creating a desirable outcome for yourself.
Unfortunately when there’s money at stake then emotions are difficult to control.
The larger the perceived value of the investment at stake, the higher the emotional value and expectations.
This tends to cloud judgement and rational thinking.
How do you avoid these emotions costing you money or sabotaging your deal? One way to do this is by removing yourself, the emotional buyer from the equation and getting someone to negotiate on your behalf.
A buyers agent will always:
represent their clients best interests
Remain emotionally detached from the outcome
Be an emotional buffer between buyer and selling agent
Understand the negotiation process
Negotiating in a tough market like the one we have at the moment is a difficult task.
Knowing what price to go in with when there is no guide price, makes it difficult to determine which number is the right one that will win you the deal - without overpaying.
To do this successfully, you need to clearly understand what the value of the house is that you are bidding on.
You need to understand how the market has performed in recent weeks and months to gauge any price fluctuations. You need to have built a rapport with the agent.
Lastly, you need to ask the right questions at the right time to have as much information at hand arming you with the best chance of winning your property.
Drop me a line if you have any questions!