Three Key Negotiation Strategies When Buying a Property

If you are planning to buy a house in Corpus Christi, Texas, you should read the article carefully. We have discussed some valuable tips here that will serve you well during the property buying process. Property buyers often do not like to feel outgunned during the negotiation stage of purchasing the property. This is because most of the buyers are often engaged in multi-million dollar deals regularly.  

During the negotiation stage, no party, be it the buyer or the seller likes to be overpowered especially when making such a big-ticket acquisition like that of a home. No one truly enjoys the feeling of being “powerless”.

The top 3 strategies –

The three strategies mentioned in this article can truly guide you through any negotiation and help you off with the ‘I’m on top” feeling. Keep reading to find out –

• Negotiate confidently.
• Do not assume that you are aware of the other person’s needs.
• Detach from the outcome.

Let us look at each of them in detail and know how they can be used in the process of negotiation when buying a property –

Negotiate confidently –

Confidence is the ability to believe strongly in the powers, trustworthiness, and assurance.

Even if you do not have enough negotiating skills, but you are confident, then as a buyer you will fare better than the skillful non-confident seller because more credit is given to the confident one.

As a confident home buyer, you need to know about the current property pricing in the market, the sale histories of the property in the area you wish to invest in, and so on. The confidence borne out of this knowledge is unbeatable and it comes with time. If you think you will become confident in buying the property in a short period, my friend you aren’t being realistic then. Negotiating skill development takes time and patience.

Secondly, you do not want to be going through the real estate listings on online portals 3 months from now. Only to realize that you have not improved on your goal of gaining knowledge that in turn would have built up your confidence.

The moment you began taking action to improve your real estate knowledge is the day you are stepping up to be a confident buyer of properties and a skillful negotiator. You gain competence each day that you spend working on your knowledge. The outcome? Confidence!

Do not assume that you are aware of the other person’s needs –

When you are in the process of negotiation, most people start assuming certain “facts”. If you think that you are aware of the needs of the other party, then it can make you do unproductive things. In response, the person with who you are negotiating will be sticking to his/her position even more forcefully. Finding a middle ground and negotiating from a position where both the parties are satisfied is important. If you are stuck on your position and the opposite party on his, then the discussion becomes fruitless and frustrating. You are then stuck in a stalemate situation in bad mood. This situation will not deliver the outcome that both parties desire.

Making assumptions based on someone’s background and values is quite natural. But, during a negotiation, one must be careful not to base his/her perceptions upon someone else’s beliefs and values.

Peeling the layers back –

It is a good idea to not assume the needs of the other party. Also, not to take whatever the other person says at face value.

As a reputed real estate agent in Corpus Christi, our job is to peel the layers back and look beyond the struck position to actually understand and not just assume the needs of another person. The bottom line as a property buyer is that you should look out for facts rather than assumptions by carefully asking questions that will clear the air and help you understand the other party’s needs. Only then we can find a solution and meet the needs and close the deal successfully. Working on solutions without knowing the other party’s needs will only result in frustration.

Detach from the Outcome –

One thing that you can take away from reading his article is – to learn to detach from the outcome. Why so? Because extreme attachment will cause the negotiation to move away from a need-based negotiation to a position-based negotiation.

When you are negotiating any deal, experienced dealmakers will always act like they want the other party to know that they aren’t very desperate to complete the deal. This is a very important strategy. Learning to walk away from the deal if need be is very important. Sometimes, you may have to, for compelling reasons.

The bottom line –

To summarize the entire article, if you need these three negotiation strategies, you will increase your chances of successfully negotiating the purchasing the property that you have your eyes upon, even when the market is hot!

“Buy my house?”

“Cash buyer for my house in Corpus Christi?” – is this how your Google search is looking?

If yes then you are at the right place! Our expert real estate agents at the Grahambelle Group are expert negotiators who will get you the property you have eyed for such a long time! Give us a call today to know more about our "we buy houses for cash” services and let's help you in your home buying or selling process.