This may sound elementary but it takes two sides for a real estate transaction to work. A buyer has to sign off on the deal and the seller has to sign off on the deal. Both sides have agendas and needs to make the deal work. And rarely does one side come out on top substantially, meaning, low ball offers are rarely (if ever) accepted and sellers not willing to negotiate will never have their house sold. Why? Because people have become increasingly intelligent in the internet era and know what a bad deal is. This post is designed with the buyer in mind. I want to give them tips to get the best deal they possible can during the negotiations.
Rule 1- Price
Lets have an example. You find the perfect Huntington Beach condo for sale and want to put an offer in on it. If you decide to put in a low price, have a reason why it is low. Don’t just pull a number out of the air and say “I think it’s worth this”. Why do you think it’s worth what your offering? Have your real estate agent present data on why it’s worth what your offering. If you don’t then the seller will become angry and will not sell because their pride has been kicked into light speed.
Rule 2- Nitpicking
Negotiating has changed over the years. The hardball method does not work well anymore, and nitpicking certainly does not work anymore as a negotiation tactic – especially in the Huntington Beach real estate market. Do not nitpick the home to the seller. If there is a major problem with the home (roof, foundation crack, holes in walls, etc..) then yes you can use that for the negotiations. But if its a stain on the carpet or a wall color you don’t like then do not bring it up. This will only upset the seller and he will write you off as unreasonable.
I was once with a someone (the home owners representative was also with us) and during the home tour they decided to nitpick everything about the home to me and the sellers representative. After the showing (shocking to me) the person said they really wanted the home and it was everything they wanted! They wanted to place an offer. The sellers representative told the sellers all that was said about their home. The sellers were so offended they wouldn’t take anything less then the asking, and the person could not afford the home at asking but could afford it slightly less then the asking. They lost the home. I’m confident if the person did not nitpick the home they would have gotten a deal done and their dream home.
Rule 3- Attitude
A really wealth business man told me something when I was young and getting into business. He said: “All things being equal, people will do business with people they like. All things not being equal, people will still do business with people they like”. What great wisdom! If your going into a showing or negotiations with a standoff or mean attitude then forget about getting a good price. If you are pleasant to deal with and come across reasonable, I’ve seen some pretty amazing offers get accepted because the seller “had a good feeling about that person.” I’ve never seen an offer get accepted when the person was trying to intimidate, grind someone, or be standoffish.
Hopefully this will help you if you are looking to purchase an Orange County Home. I’m an expert in this field and if you need someone to assist you through your next real estate purchase then please get ahold of me! MalakaiSparks@gmail.com or swing by our office in Costa Mesa.
I can guarantee you I will get you the best possible price for your property- buying or selling.