Negotiation or Battle

When negotiating real estate deals these days, too many people get into trouble because of what I call “their primal need to win.” The real estate market is getting better but is still fragile, and compromise is the best course of action to keep a deal together. The issue with the win at all costs way of thinking is that everyone loses. If your goal is to buy or sell a house, you need to keep reminding yourself of your objective, so that you don’t get stuck in a ditch of minutia or lose sight of the big picture. For instance, as a seller, it is always best to respond to every offer, even when it is much lower than you were expecting. Don’t insult the buyer by telling them to take a hike. Instead, stay true to your goal, thank them, and then convey that the offered price is too low. This may keep the door open for their next offer if they are serious buyers. Just remember that in a “Buyer” market, everyone is looking for the best deal. The terms of a deal are also common stumbling blocks to a successful transaction. If you have negotiated the price but the terms are cumbersome, ask yourself if it will matter to you in 30 days. I have seen too many people lose a perfectly good transaction over a 10 year old washer or dryer. The final outcome should be what’s important to you. So ask yourself, were you able to buy the house you wanted, or sell the house you lived in? The price settled on has everything to do with market conditions and nothing to do with determining if you won or lost.