Mel Dennis – Buyers Advocate
It is essential to remember that real estate agents are trained negotiators. Routinely practice scripts, techniques, and tools to get the most out of buyers. For this reason alone, it is vital to use somebody impartial to complete negotiations on your behalf. You should ideally be an experienced and professional property advocate as they are the best equipped to purchase the property for you at the lowest possible price. If you are unable to use a property advocate, then you should at least use a friend or a parent instead. Negotiation is essential when trying to obtain a property at the right price. It’s important to note negotiation isn’t always about price. You need to arm yourself with as much information as possible as to why the person is selling their property.
As they say, knowledge is power. It’s essential you ask the agent as many questions as possible. The answers the agent provides will help you in the negotiation process. Possible reasons for selling could be divorce, downsizing, vendors have already purchased, consolidating debt, having financial difficulties, upgrading, etc. If the vendors are being forced to sell, then it may be more important for them to settle within a certain time frame, rather than the actual selling price. If selling is more about cashing in, then their desired outcome will be more about price than settlement terms.
Some key points to know before you start negotiating are: know where you will stop. Also, know your settlement terms and have your finances pre-approved. If you want to put conditions on your offer, make sure you have your solicitor write them in. Don’t let the agent do it for you, he will word them in favour of his seller. Most importantly, be prepared to walk away from a property that falls outside your financial limits. If you have set a maximum price and this price is exceeded at auction or during a private negotiation, literally walk away. By walking away, it ensures that you do not go above your limit and end up securing a property outside your predetermined budget. Longview has a trained team of negotiators that can help you secure the best price and terms to suit you.
Give me a call on 0416 218 003 to discuss further.
