In order to negotiate properly, it’s important to know what negotiation tips will work for you in the current real estate market. Think about these four tips the next time you buy or sell a home in the Greater Austin area.
Know Your Competition
Take a look around the area and check out comparable homes. It’s important to know what nearby homes are selling for and details about the homes compared to the home you are buying or selling. This will give you some insight into what the home is worth and will be ammunition in your pocket when it’s time to negotiate.
Ask What The Other Party Needs
Knowing what a buyer or seller may need to get a win-win sale is helpful, so don’t be afraid to ask questions. Some terms like additional possession time, quick close due to relocation, or a contingency to find a new home are important to know ahead of time. Understanding why someone is selling or buying a home is also important, but ultimately, knowing what terms they need will get the home closed.
Try To Keep Emotions In Check
Buying or selling a home can get emotional, especially as a seller if it’s the home your children grew up in or as a buyer if you finally found your dream home. However, it’s important to try to keep emotions out of negotiations as much as possible. Emotions make things more complicated than they need to be, and buying or selling a home can already be stressful enough without emotions being thrown in.
Don’t Be Afraid To Walk Away
This is one of the most important tips to remember because sometimes it just isn’t going to work out, and there is nothing wrong with that! If the negotiated price is over your budget or you can’t agree on the terms you need, it’s okay to walk away. The perfect home will come along, and you can use it as a learning experience for the next one.
Negotiating comes with a lot of experience and practice, and it’s important to hire a professional to help you navigate your way through it. If you are looking to buy or sell a home and want a professional in your corner, please reach out to us! We would love to be a resource for you!