So you’ve made the decision to purchase a home? Congratulations on choosing a great time to buy! Check out my blog series about Buying A Home In Today’s Market for more information. This is part 3 of a 5 part series detailing the steps to purchase a home. If you missed it, review Home Buying Step 2: Making an Offer for more information. In this episode I’ll share some tips to negotiate the best terms of your sale.
By this point you’ve most likely been qualified by a lender, you’ve located a home that meets your criteria, and you’ve made an offer. Congratulations! We’re going to review the next step in the process. Negotiation.
After years of learning, failing, and succeeding I’ve learned that negotiation is art. No two situations are alike, and each sale has it’s own unique qualities. Just as each brush stroke combines to form a completed piece, each contract term and counter offer builds to complete a contract of sale. Just like consistent practice allows an artist to create a higher quality pieces over time, consistent negotiation practice allows top Roseville real estate agents to work at a higher level of quality.
There are a lot more details that factor in to negotiating a great position in addition to JUST the price. It is advisable to look at the motivation level of the sellers. Do they have a financial hardship motivation? Is there a time constraint? Are they being relocated for a new job? The opposing party may be open to a lower price if they can get to closing faster. Looking at the experience level of the other party’s agent is also very important. An experienced negotiator will recognize sales/negotiation tactics and know how to counter them. I love to showcase my clients to the other agent. I want them to know how financially solid, informed, and grounded my clients are. I sell the fact that we will have a smooth transaction that will close on time. Bringing these factors to the table sometimes allows the buyers to get additional terms weighted in their favor over a lesser quality buyer. As a top quality Roseville real estate agent, I’ve been able to get terms accepted for my clients because the other party didnt fully read the contract! That’s crazy.
The right agent can make all the difference in getting your offer accepted and keeping your transaction together. A true professional will be able to keep your best interest as the #1 priority, NOT the commission. Knowing how to look at terms without emotion can save a transaction that may have fallen apart over a very small contract term. Hire a Roseville real estate agent that you can trust. They should be able to give you an honest, experienced opinion about when to walk away or when to stick through it and close. Make sure you have an agent that will work for your best interest, and still be able to work with the other agent. Do not end up with an agent that is looking for a fight, or is always focused on being “right” at any cost. A professional should be able to manage emotion, keep the sale professional, and keep the other agent focused on the same goal of closing the sale. However, in case a high tension situation does come up, make sure you’ve got a badass in your corner!
I hope this information helps answer some questions about how contract negotiations work. Check back for Home Buying Step 4: Inspections as we continue to move through the process. If you have more specific questions I would be glad to talk with you directly.