Dueling Comp’s (and Spreadsheets) Real estate negotiation can involve lots of back-and-forth and numerous fine points, but in my experience, it’s usually not productive to get into a detailed discussion of/argument over the Comp’s, also known as “Comparable Sold Properties.” Put it it this way: I’ve yet to have the other side say, mid-negotiation, “you...Read More
Playing Defense as Well as Offense Anthony Finney: So I had a contract drawn up to buy you and your company lock, stock, and barrel. Ray Donovan: I’m not for sale [walks away]. Anthony Finney: Ahh . . we’re still negotiating. –“Ray Donovan”; “Come and Knock on Our Door” (episode 3, season 3). You can...Read More
“Death By a Thousand Cuts” (Or Raises) No home Seller, quite understandably, wants to leave money on the table. No Buyer wants to overpay. Which is why it can be so tempting to initially list for too much (Sellers) or offer too little (Buyers). Big mistake. That’s because what often happens next — and by “next,” I mean, “several...Read More
Taking Yes Full Price For an Answer “He who governs least governs best.” –Thomas Jefferson “He who negotiates least negotiates best.” –Ross Kaplan Soviet dissident (and now Israeli politician) Natan Sharansky once explained how he and his fellow dissidents helped pass the time in solitary confinement. Adept at Morse code and held in adjacent cells, they...Read More
Buyer Strategy in a Seller’s Market “Never negotiate hungry. Or tired.” –Ross Kaplan, “Negotiating Advice” (12/7/2010) As I’ve discussed on this blog previously, the “How” of negotiating can be much less important than the “When” or “Where.” As in, “when to stop negotiating (and take a break),” and “never negotiate while driving” (you can’t take...Read More
Verbal Negotiating Traps and Pitfalls Savvy listing agents know how to parry, “Would the Seller consider taking $__?” Namely, by shooting back, “Is the Buyer offering $___?” If the answer is “Yes,” they respond, “Great! Put in writing, and I’ll do my best to get a quick, serious response from the Seller.” If they balk or say...Read More
