Maximize your negotiating power
For most of us, buying real estate is one of the largest purchases we'll make in our lifetime. Yet unlike most items offered for sale, buying and selling real estate typically involves a considerable amount of negotiation. After all, a person rarely starts the buying process with an offer to purchase at the full list price. There are a lot of factors that can help you achieve a desirable result. First and foremost is dealing with a real estate sales professional you can trust. You want someone who understands your needs, someone who can draw upon many resources throughout the transaction process, and also a person that you can relate to and communicate with easily.
MaxWell agents pride themselves on delivering customer satisfaction through our unique Ultimate Service® program, where we will work on your behalf to guide you through the process and provide you with a written guarantee of service. Choosing the right real estate company and the right sales professional is an important way to maximize your negotiating power, but it's just the beginning.
The negotiating is almost always exciting, frequently stressful, and sometimes it can even be frustrating. A lot depends on whether you're dealing from a position of strength. And strength depends on how much information you have at your disposal going into the negotiating process. As your Agent, I can help analyze the current market conditions for your selected property before you draw up an offer to purchase. For instance, your sales representative can answer the following questions: How long has this house been on the market? How long has it been listed at this price? Has there been any price reduction: Why is the owner selling? If the property has lingered on the market for some time, or had a price reduction, this can indicate whether the home is priced higher than the current market will bear. It may also tell you how anxious the seller is to complete the transaction.
I can also find out how many other comparable properties are currently for sale and at what list prices. This is what the seller is competing against. While you won't know how many other buyers you may be competing against, your salesperson can determine what the sales to listing ratio is (i.e. how many sales have taken place versus how many new listings have come on the market over a given period of time) in your area. This figure along with recent sales statistics will tell you just how close to the list price that first offer should be.
Finally, one of the best ways to maximize your negotiating power is to have an offer that's as free from conditions as possible. If you're pre-approved for a mortgage you eliminate the need for a financing condition. In a hot market, you may also be well advised to sell your existing property first. Talk to me to create a negotiating plan that's right for you.
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