Negotiation is a subtle art in real estate, but skilled negotiators
can usually find some common ground that satisfies all parties.
On the other hand, using the wrong negotiation tactics can sink
a deal pretty quickly. Here are some negotiation tactics buyers
(and real estate professionals) should avoid:
1-Lowball offers: Going far below market value when you
make an offer damages your credibility as a buyer and can
be insulting to the seller. The seller has a range in mind
that they’ll accept, and if you’re not even approaching
the low end of that range, they won’t even consider the offer.
2-Incremental negotiations: Don’t continue to go back to the
seller with small increases in your offer ($1,000 or less).
The constant back-and-forth can grow tiresome and lead
the seller to consider other opportunities.
3-“Take it or leave it”: Try not to draw a line in the sand
with your initial offer. The seller can get defensive and
consider other offers if you immediately show that
you’re unwilling to budge. Even if it’s true, don’t
make a show of it.
4-Nitpicking after inspection: Obviously if inspection
reveals a major issue, it should be factored into the final
sale price. But insisting on a lower price for every minor
repair can put negotiations in a stalemate.
5-Asking for more, more, more: Some buyers will request
that the sellers throw in add-ons like furniture or
appliances that weren’t included in the listing. Try
to avoid giving the seller a reason to build up
resentment and think that you’re being greedy.
