Tips & Trends for the Flagstaff Real Estate Market:
Past Articles [January 2004]
We write informative monthly articles about timely real estate topics. Be sure to visit our archives so you can read other past articles, which cover a range of Flagstaff real estate topics. You can also sign up for our monthly newsletter.
Win-Win Negotiating in Real Estate Transactions
With the New Year here many of us have made a resolution that we will buy or sell a home in the coming months. Here are a few thoughts which may help your ability to work with the folks on the other side of the transaction.
Negotiating a purchase agreement is perhaps the trickiest aspect of any real estate transaction. Most home buyers and home sellers want to arrive at a win-win agreement. Successful negotiating encompasses the learned ability to use certain skills and techniques to bring about win-win results.
Start with a fair price and a fair offer. There's no question that significantly overpricing your home will turn off potential buyers. Likewise, making an offer that's far lower than the asking price is practically guaranteed to alienate the sellers. Asking and offering prices should be based on recent sales prices of comparable homes. Buyers and sellers in our area are usually assisted by a competent real estate professional who knows the local market.
Respect the other side's priorities. Be prepared to compromise. 'Win-win' doesn't mean both the buyer and the seller will get everything they want. It means both sides will win some and give some. Rather than approaching negotiations from an adversarial winner-take-all perspective, focus on your top priorities and don't let your emotions overrule your better judgment. If need be, meet in the middle. Splitting the difference is a time-honored and often successful negotiation strategy.
back to list of articles
back to top
|
