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Real Estate Negotiation Secrets
When you bought your home, you offered less than you were willing to pay, right? That's the most common negotiation technique. For experienced investors, however, that's just one little secret among the many more powerful ones. What else can you do? How To Make An Offer 1. Offer an odd amount, like $161,793. This gives the impression that you know something the seller doesn't. They may think you have a good reason for that particular price. 2. Play dumb. Ask questions, talk slow, ask for help, and never show off your real estate expertise. Sellers are afraid to budge if they think a smarter person may be taking advantage of them. 3. Use the "limited authority" ploy. Say "I'll have to check with my wife (or partner)." It's easier for sellers to accept that you can't do something, rather than the idea that you won't. 4. Refer to precedent. "My father bought his house this way." If the offer is at all unusual, sellers will feel more comfortable if they know it has been done that way before. 5. Ask for things you don't want. This lets the seller win concessions when negotiating. If you can say, "I guess I don't need the refrigerator, if I can get my price," you're more likely to get your price. 6. Be reluctant. "well, I don't know..." Reluctance gets the seller looking for ways to motivate you, and lets him feel like he's won something when you settle the point. 7. Make the offer their idea. "Are you saying you'd like a later closing, and more earnest money? Well let's do it your way, then. I just need..." 8. Get a yes before the offer. "What if I paid your price, but got my terms? Would that work for you?" Even with a few changes, it will be hard for the seller to say no to an offer he more or less already agreed to. 9. Flatter the seller. Flattery has been proven to be worth an average of $1962 in real estate negotiations. That's a joke, by the way, but you know if he likes you, you'll probably get a better deal. 10. Pass over problems, and return to them later. Agree on every agreeable point first. It will feel like the house is sold then, and it will be difficult for a seller to lose the deal over an issue or two that you need to go in your favor. You can spend a lot of time looking for cheap houses. Why not spend a little time learning how to purchase every home for less, with some smart negotiation? Steve Gillman has invested real estate for years. To learn more, and to see a photo of a beautiful house he and his wife bought for $17,500, visit http://www.HousesUnderFiftyThousand.com
MORE RESOURCES: Investors are piling into real estate as values skyrocket by up to 38%. 13 metros with the highest gains, and 25 that are plunging. Business Insider Gorgeous 131-acre estate near Sacramento for sale for $5M. Step inside decked-out home Sacramento Bee Down Payments Are Dropping From Historic Highs—See How Much Homebuyers Can Save Today Realtor.com News Will builders start lowering agent commissions? Real Estate News Real Estate Transactions, Oct. 21 edition Hopkinton Independent See September real estate trends in The Woodlands area Community Impact Take a look at the nine Palm Beach properties that sold for $39M or more in the off-season Palm Beach Daily News Buttoned-up real estate exec goes all out for Halloween The Atlanta Journal Constitution Lebanon County real estate transfers, sponsored by Reliable Moving and Storage (Oct. 1 to Oct. 15) LebTown AI Becomes Real Estate’s New Landlord PYMNTS.com Global Real Estate Streaming Service WPC TV Begins Platform Construction The World Property Journal Predictions of a stronger market during seventh annual St. Louis Commercial Real Estate Summit REjournals.com News | Social infrastructure real estate manager agrees £80 million financing with HSBC CoStar Group Metro Milwaukee retail real estate market softens in Q3 BizTimes Milwaukee Palm Beach's summer saw multiple high-end home sales. Is a busy real estate season ahead? Palm Beach Daily News NAR hit with another lawsuit over ‘forced membership’ Real Estate News Denver Borough residents may see real estate tax, water rate increase in 2025 LNP | LancasterOnline NAR, 4 brokerages ask court to toss out Homie suit Real Estate News Central Mass. real estate transfers, Sunday, Oct. 20 Worcester Telegram Are you buying a home in WA without a real estate agent? The Seattle Times Finding Extra Yield Potential in Real Estate Mezzanine Debt Institutional Investor Judge rules WA real estate investment firm ran Ponzi scheme The Seattle Times A danger foretold: NAR’s waning dominance Real Estate News NAIOP: Commercial Real Estate Sentiment Rebounds Mile High CRE Southeastern Wisconsin industrial real estate absorption slows in Q3, but market remains healthy BizTimes Milwaukee See how much real estate prices have changed in Sea Ranch in the past 5 weeks The Santa Rosa Press Democrat Berks County real estate transactions for Oct. 20 Reading Eagle Sale closed in Newton: $1.6 million for a triplex MassLive.com Bloomington RDC OKs $25K for real estate appraisals, preps sale to hotelier for convention center project B Square Beacon Ottawa County real estate transactions recorded Oct. 14-18 Port Clinton News Herald How Developers Are Catering to Would-Be Homeowners With Rental Amenities The New York Times North Central Board of Realtors serves as voice of real estate in Baxter, Marion counties - ktlo.com Crypto has designs on real estate Financial Times Alexandria Real Estate Q3 Revenue Rises The Motley Fool Former Brookfield Property CEO joins board of sports and entertainment real estate developer CoStar Group Guthrie installed as Midland Board of Realtors president Midland Daily News Ares Management Real Estate Secures $475M in CMBS Financing for Industrial Portfolio Commercial Observer What Is Unrealized Capital Gains Tax? Unpacking ‘Economy Killer’ Proposal On Ultra Wealthy. - Forbes Alexandria Real Estate Equities: Q3 Earnings Snapshot Danbury News Times Vietnamese real estate tycoon sentenced to life for billions in fraud in government graft crackdown The Associated Press U.S. Mortgage Rates Continue to Rise, Again The World Property Journal KKR Real Estate: Q3 Earnings Snapshot San Antonio Express-News Helen Mirren Lists 'Legendary' $18.5 Million Compound Yet Again (With a Huge Discount)—See Inside the Opulent L.A. Estate Realtor.com News Hocking County real estate transfers Logan Daily News Residential real estate roundup: D.R. Horton continues expansion of Triad presence Triad Business Journal Radio Real Estate 10/19/24 My Bellingham Now European P2P real estate yields average 10pc Alternative Credit Investor KKR Real Estate: Q3 Earnings Snapshot San Francisco Chronicle Ken Griffin's move to Florida means losing millions on homes he never even lived in Business Insider C-I Oct. 22, 2024 Real Estate Transfers pmg-sc.com What different election scenarios mean for real estate National Mortgage News |
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