One thing I have discovered in this life is that everything is negotiable. From the price of a cup of coffee, the interest you pay on your mortgage and even the status you hold in your community. Everything is negotiable.
Negotiation is the art of influence and the art of understanding. Great negotiators start with the understanding that everything is negotiable. They also start every negotiation by seeking to understand as much as possible about all sides of the negotiation. That means learning as much as possible about all the parties involved. What are the driving factors what has lead them to the position they are in today. What makes them happiest what would be a dream result for them. There is always more going on than the obvious heckling over price.
A workman wastes no time sharpening his tools. The more you are able to learn the more influence you will hold in the negotiation. Your goal is to gain value in the transaction. The purchase of property is generally seen as a battle between two parties on looking to get a higher price and one looking for a lower price. However often the terms are just as important if not more important than the price, when will the settlement and possession dates be? how much will the deposit be? will the owner finance some of the transaction costs?
Seek to understand before you seek to influence, that is our first key in property negotiation.
Until next time, communicate and prosper.
The property negotiator 2010
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