REALTORSreg; SHARE THE BEST TIPS FOR BUYING A HOME Thisnbsp;article is a guide for things you need to know to negotiate a better deal on a piece of property.nbsp; There are specific tips, tricks and negotiation tools only the bestnbsp;REALTORSreg; know.nbsp; Here is a glimpse of what makes some individualnbsp;REALTORSreg; shine during negotiations. Neither the topnbsp;REALTORSreg; nor the smartest buyers wingnbsp;itnbsp;in negotiations.nbsp; Below are the best tips to learn how to get a Seller to take less money for their home.nbsp; And, these tips work IF YOU KNOW NOTHING ELSE ABOUT HOME SELLERS, KNOW THIS... Psychology plays a HUGE roll in thenbsp;negotiation of properties in real estate, and sellers are proud of their homes.nbsp; In fact, Duke University did a study on how we, as humans, price items with sentimental value.nbsp; Duke termed their research the High Price of Ownership.nbsp; In fact, Duke called owners of something predictably irrational.nbsp; I cannot think of a better way to describe the emotions of most sellers.nbsp; It is merely human nature.nbsp; Heres the link if youre interested in watching the video - click here. Asking a seller to discount theirnbsp;property with zero solid reasoning will only build a wall between you and the seller.nbsp; In other words, writing an offer for a home and just saying, hey, we want $20,000 off the home just because, isnt going to get you anywhere.nbsp; In fact, an offer like this will almost put you in an almost impossible position of trying to win back the sellers trust.nbsp; And, it could cost you a few extra thousand dollars just by making the seller angry in the beginning.nbsp; By offending the seller about their home, Ive seen sellers say Ill sell it to this buyer, but its going to cost extra.nbsp; Heres what I tell clients who insist on writing lowball offers in the beginning - If you dont want the house that badly, feel free to float out offensive proposals.nbsp; However, if you do want the house, dont do something to anger the seller from the start. WHY ITS VITAL TO NEGOTIATE FROM A POSITION OF POWER Unfortunately, most people believe that real estate negotiations are about just going back and forth until you meet in the middle.nbsp; As a professional agent, this is a bignbsp;pet peevenbsp;of mine and a colossalnbsp;waste of time.nbsp; Also, neither party has the upper handnbsp;in this type of negotiation. As a buyer, it is vital to negotiate from a position of power so that you have the upper hand during negotiations.nbsp; One party (seller or buyer) will ultimately have the upper hand in the deal.nbsp; Heres how to make it you: HOME BUYING TIP 1 - GET A DISCOUNT BY KEEPING YOUR OFFER CLEAN Sellersnbsp;already have a good idea of their expenses on the sale of their home - commissions, repairs, title costs, taxes, and more.nbsp; Instead of offering a lowball price and asking the seller to pay for home warranties, closing costs, and repairs add up what you think those will cost you and build it into your original offer. Example - factor in how much money you think things like home warranties, closing costs, and repairs will cost and then submit your offer with those numbers in mind.nbsp; If you can negotiate a deal for $5000 off the price of a home, but pay $1000 of your costs (closing costs, home warranties, etc.), wouldnt you take that trade? Keeping your contract clean means, you have a MUCH better chance at a lower price if you dont litter the contract with discounts at every opportunity -nbsp;trying to nickel and dime the seller will only build the wall we discussed above. TIPS FOR BUYING 2 - GAIN THE SELLERS TRUST BY BEING STRAIGHTFORWARD When a seller feels right about you and your offer, a seller will be much more willing to discount a property for you.nbsp; What makes a seller feel right about you as a buyer?nbsp; Having all of your documents like pre-approval letters, checks for option monies and earnest monies, and presenting them with your first offer.nbsp; Being transparent with the seller from the beginning by submitting your documents shows you are serious and not just kicking tires.nbsp;nbsp; Heres my advice - when submitting your offer, compliment the sellers home but mention one or two things youll need to repair once you purchase the house.nbsp; Sellers are very proud of their homes and are emotionally attached, so a sincere compliment telling the seller why you like the house will go a long way.nbsp; That said, there are always things that need repairing, and sellers will understand if you nicely add, we are making this offer because we need to fix the fence.nbsp; Most likely they have spotted something like the fence as well.nbsp; Be sure to pick out items any buyer will see such as the fence, roof, landscape, cracked tiles, and installing stone counters.nbsp; As a buyer, be careful not to take your compliments too far, or all the seller will hear in their head is cha-ching (like a cash register), and it could cost you thousands more HOME BUYING TIP 3 - WIN THE NEGOTIATIONS BY DOING WHAT YOU SAY Negotiations can continue beyond just the initial execution of a contract between buyer and seller.nbsp; Any smart buyer will have an inspection performed by a licensed inspector and possibly then negotiate a bit more from issues found in the inspection report.nbsp; Therefore, gaining the trust of the seller from the beginning is imperative.nbsp; Doing what you say means timely following the contract from first execution - promptly delivering option monies, getting earnest monies to the title company, and immediately scheduling inspections.nbsp; A seller will see your timeliness as respect for both them and their property which will psychologically make it OK to discount even more for you (after inspections) potentially.nbsp; Its crazy, but sellers want to feel right about the person buying their home.nbsp; This feeling is part of the emotional attachment to their property. Oppositely, if you drag your feet and the seller starts to consider you hard to work with, youll most likely lose any leverage youll have after the inspection. In the end, sellers are very, very protective of their homes.nbsp; If you treat the seller and the property with respect, youre a lot closer to getting a discount than you are if try and play hardball.nbsp; Playing hardball and submitting lowball offers will ultimately mean youll most likely end up paying more for a home you want.nbsp; That is if the seller will even sell it to you