When it Works — and When it Doesn’t; or, “Good! Go Lowball Someone Else!” Fear of loss can be a huge motivator in real estate sales. For home Buyers, it means losing out on their dream home to a higher bidder. So, what do home Sellers fear losing? A good Buyer. “The Runner-Up House” Which...Read More
Substitute “Boundaries” for “Fences” Just as good fences make good neighbors, in real estate deals, well-defined boundaries make for better, stronger deals. Getting to “Yes” is certainly a key part of any deal. But, getting to “No” — make that “No’s,” plural — is an even bigger part. See, “The Key to Successful Negotiating: Getting...Read More
Negotiating Secrets & Mantras For anyone who doesn’t have time to read a book — or ten — on real estate negotiation, l can distill what I’ve learned from a decade-plus representing home Sellers (and Buyers!) into two questions, to be asked by would-be Sellers (and their Realtors) at the key juncture(s) of each deal: 1. “What are the...Read More
Negotiating 101 Here’s a thought: your negotiating leverage is only as good as your “or else.” As in, “if you don’t accept my last offer, I’m going to . . . ” Or, “if $3,000 towards your list of repairs isn’t sufficient, I’m going to . . .” Two Scenarios At one extreme, if your...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
“Powell Doctrine” vs. “Kaplan Doctrine” Military action should be used only as a last resort. However, when it is used, it should be overwhelming and disproportionate to the force used by the enemy. –Powell Doctrine (my paraphrase) Buyers who have serious interest in a home should stay off the listing agent’s radar until such time...Read More
