There are some people who never question the price of an item. If you are one of them then maybe it’s time to brush up your Negotiation Skills. It won’t hurt for you to learn some negotiation skills as they can come in handy especially if you are selling or buying real estate.
Below are some negotiation skills which will help you in winning the game.
Right price of the house
You will always find that there is a difference in the House price that you want and that the market can pay to you. Before you set your house for an imaginary price, do some comparative analysis to get more realistic idea of the price of the house.
Consider your first offer
Pay attention to your first offer as this one will probably be the best. The best offers usually come in the beginning of the process and shouldn’t just automatically be ignored. Really pay attention to them.
Think from the point of view of a salesperson
Before listing the house for sale it is essential that home sellers establish their BATNA (best alternative to a negotiated agreement). This serves as a fallback option for the negotiator in case there are no deals. It also puts the negotiator in a strong position. Maybe you decided that in case you didn’t receive the bottom line, you will rent the place or you will renovate and try again later. This will prevent you from agreeing to a bad deal merely out of desperation.
When it comes to negotiation, being stubborn is not going to pay off especially if your goal is to sell the house. It is better to take a little lower of an offer than to not sell at all. If you have trouble in selling at a lesser price, just think in terms of utilities, maintenance, and repairs you will have to pay for. Once you become aware of the total cost of keeping the home, you will be ready for the sale.
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