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?

Where to next?

For more in-depth information, try one of our "How-to" articles on Negotiation. Please continue to explore our website - there's a lot of valuable information available here, especially in our How to buy Property in Melbourne series. A complete SITE MAP is also available.

If you are ready to have a chat please call us on (03) 9523 1054 or take five minutes to fill in the Your Needs form and we will contact you within 24 hours.