What is the best way to negotiate with a seller?

ArifulislamArifulislam Posts: 20
edited August 2015 in General Chat Vote Up1Vote Down
The more you know about a seller’s motivation, the stronger a negotiating position you are in. For example, a seller who must move quickly due to a job transfer may be amenable to a lower price with a speedy escrow. Other so-called “motivated sellers” include people going through a divorce or who have already purchased another home. Remember, that the listing price is what the seller would like to receive but is not necessarily what they will settle for. Before making an offer, check the recent sale prices of comparable homes in the neighborhood to see how the seller’s asking price stacks up. Some experts discourage making deliberate low-ball offers. While such an offer can be presented, it can also sour the sale and discourage the seller from negotiating at all.

Comments

  • 5 Comments sorted by Votes Date Added
  • This is such a good post! It's so true though when you say that just because someone is asking a certain price, that doesn't mean they will settle for that price. I know that people always try to up the price so that they can get more from you. It's good to try and talk them down because a lot of the time they will go down in price.
    Hello everyone!
  • Great post - some people don't need the full amount that something is worth, it is more important to them to make a quick sale and get what profit they can.
  • Exactly @fullbeans so many people will just up their prices, but they still want to make sure that they can make a sale. So, there are many people who will be willing to sell for less. Though, you just want to make sure that you are good at bargaining with them.
    Hello everyone!
  • Thats why for those services I offer that I have a lot of people wanting me for (more than just forum signature posting) I high ball things a bit. I set a base price that's higher than the norm, but state I'm willing to negotiate. Of course, people always come in wanting to low ball the price, but with any sort of negotiating and haggling tactic, you just keep whittling your price down till you get to something a bit more agreeable for each person.

    Here's an example. Lets say I offer X service, and I have a lot of satisfied customers. X usually goes for $5, but I offer it at $10. Customer wants to negotiate down to $3, I say I can't do that, willing to go 9. He ups it to the normal $5, I say no, but I'll do it for $7. He agrees, because he's seen how many happy customers I've had, and I get to work. I didn't make the sale at $10, but I still made more than the average going rate.

    Of course that's just an example.
  • Be polite yet firm and very upfront about things. I find that this is one of the best ways to negotiate with others.
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