How to Negotiate a Price That You Will Be Happy With

As a Realtor, I have negotiated many Real Estate purchase contracts. I have noticed a few tactics among the buyers who are usually happy with their deals among others. There is no magic trick to negotiating. It is mostly a knowledge game. The more knowledge you have on your particular target property and subdivision the better chance you have to achieve the desired price on your next property.

Here are the techniques that most buyers have in common:

-First, Choose a Realtor who LOVES and is GREAT at negotiating.

-Ask your Realtor before you start working with them, "What one or two deals are you most proud of in negotiating a price for your buyers and what did you do to contribute to the low number that your buyer and seller agreed on?"

-If you like the answer and think it will apply to your purchase success, don't hesitate to hire them.

-Your Realtor SHOULD be an expert in the Oxford Real Estate category. If they are, they will find out what the last 3-6 month sales were on properties similar to the one you are looking into.

-They should be able to study what those numbers were and compare them to the current market trends to come up with a number that you can expect to pay.

-From there, you and your Realtor should agree on a firm price that you would like to take that is maybe 3-5% lower than the market price (in some instances 5-20% depending on the situation).

-Most buyers don't actually realize this but your Realtor is entitled to not only present the offer to the Listing Realtor, but accompany that Realtor to explain your offer to the seller if the seller allows it!

Keep these tips in mind when negotiating your next property, and you will have the greatest chance of locking in your desired price!