| Exhibiting Urgency. Few things sap negotiating power | | | | agent negotiates a better deal for you, that is money |
| like exhibiting urgency. Agents smell urgency and will | | | | out of their pocket. This doesn't mean that no agent |
| encourage the seller to drag their feet until you can't | | | | will negotiate for you. There are some excellent |
| stand it anymore and make a full-price offer. | | | | buyer's agents out there that will aggressively protect |
| Remember, a real estate agent representing a seller is | | | | the buyer's money. I highly recommend using a real |
| legally obligated to get the most money possible for | | | | estate buyer's agent for a variety of reasons. Just |
| the seller. If you have to be out of your house in 45 | | | | make sure you have one of the good, experienced |
| days because the buyer is closing and taking | | | | ones and not one that is protecting their money. |
| occupancy, keep it to yourself. If the seller or agent | | | | Offering Too Much Initially for a House. In negotiation, |
| senses this, kiss your chances of negotiating anything | | | | always offer lower than you expect to get. Offering |
| goodbye. Remember, always play the reluctant buyer. | | | | too high doesn't leave you sufficient room to arrive at |
| You are looking at several attractive options and you | | | | your goals. People have an overwhelming tendency to |
| are perfectly comfortable staying in your current | | | | end up in the middle of the range between asking price |
| house for the next year. Many times, if you are a | | | | and offer price. That means you have some control in |
| serious buyer, the real estate agent or the seller will try | | | | determining where the middle is. A friend of mine was |
| to drag an offer, even a lower offer, out of you. Then | | | | recently negotiating a new home. The asking price |
| you know you are shifting the momentum in your | | | | was $349,000. My friend offered $275,000. The actual |
| favor. | | | | sales price: $310,000. What chance do you think my |
| Trusting a Real Estate Agent to Negotiate for You. | | | | friend would have had in obtaining a sales price of |
| Don't. Do. IT! As I said, real estate agents have little | | | | $310,000 had he started out at $305,000? Zero. |
| required training in negotiation to get a license. | | | | Remember, sellers price their homes high expecting to |
| Furthermore, most real estate agents, even buyer's | | | | be negotiated down. Your first offer, and the manner in |
| agents, are still paid based on a percentage of the | | | | which you increase your offer, have significant |
| sales price of the house. And they are paid by the | | | | influence on what you eventually pay for your home. |
| seller. Just think about the conflict of interest this | | | | When you decide to buy your home, make sure you |
| creates. Consider that the seller is representing his or | | | | adequately prepare and avoid these costly mistakes. |
| her best interests. The seller's real estate agent is | | | | Understand that you must be the person looking after |
| representing the seller's best interests. The buyer's | | | | your best interests and that you may very likely be the |
| agent (your agent) is getting paid based on what the | | | | only one. Gathering sufficient information and learning a |
| house sells for so they are representing their own best | | | | few brown-bag negotiating skills can save you tens of |
| interests. Who is looking out for you? You are. Ensure | | | | thousands of dollars when you buy your home. |
| you know how to protect yourself. Because if your | | | | |