Negotiation begins from the moment we come into
contact with the agent. We are usually fishing for
information the moment we decide the property "may"
be of interest to our client. However the serious
negotiation begins after the property report
discussion and a decision is made by our client to
attempt to buy the property. The following questions need to be answered first
- Does our client want Pest or Building Inspections?
- Have the legal documents been checked?
- What terms does our client want?
- What terms does the vendor want?
- How much does our client want to pay? (At what
point will we walk away)
- How much does the vendor want?
- What does the agent think will buy the property?
With the inspections we have the option of putting
forward a conditional offer and then fulfilling
these or alternatively doing the checks and then
offering unconditionally making our offer stronger.
See our "how to" series article
cooling off for more info. Terms: most people forget that when buying a
property it is the best "deal" not the best "price"
that a vendor will take. Negotiation of terms can be
a good way to close a deal. See our "how to" series
article
settlement for
more info. The walk away point for our client will usually be a
mixture of our property report recommendation mixed
with their emotional attachment to the property. How much the vendor "wants" seems like a stupid
question (is it the quintessential question that
once it is answered you have finished the
negotiation) The vendor rarely gets what they want.
It is simply a starting point. People forget the obvious question to the agent:
What do you think it is worth? You would be
surprised how many agents can be more honest than
you would expect. Once we have all the information we require we use
our extensive experience to secure the property at
the best possible price. WE NEGOTIATE PROPERTIES ON A DAILY BASIS!
SO DOES THE AGENT YOU ARE ABOUT TO NEGOTIATE WITH!
HOW MANY PROPERTIES DID YOU BUY LAST YEAR? |
