| One of the most important principles of real estate
negotiation is to learn why the seller is selling. More than
that though, you want to try to learn the seller's
motivations for every aspect of the process. In other words,
learn not just why he wants to sell, but also why he wants
to sell a particular way, why he wants the price he is
asking, what's important to him when making decisions, and
more. Watch for personal motivators, too. Is the seller
more motivated by what she reads or by what she hears? Is
she more motivated by the promise of a fast sale, or a high
price? Listen for clues.
A seller who continually says, "I see" is probably more
visually oriented and motivated. You want to show such a
seller the advantages of your offer. Don't just explain the
offer, but point out on paper why it can work for you both.
Statements like "I just don't want any problems," or "I
just want to be done with this" indicate she is more
motivated to avoid stress than by positive goals. In this
case, you would want to make the process as easy as you can
for the seller. You might also suggest that this is her
chance to "be done" with selling.
Early in your real estate negotiations, gather any
information you can on the seller's motivations, then decide
how to use this information. For example, I have a friend
who likes to see himself as a shrewd negotiator. Letting him
"win" a lot of small concessions is a sure way to get what
you need most. Use a seller's own motivators, and even their
own words. If they say "I understand" a lot, then start a
statement with "I think you understand why..."
It is even easier to use the specific motivations
involved. If you learn that a buyer of your house wants to
be able to tell his friends what a great price he got, push
hard on every other area. Get the terms you want, have him
pay all the closing costs, etc. Take the attitude that if
he'll give you what you want, he'll get what he wants.
A little more sophistication is called for most of the
time, of course. You can't just say "Oh, you want that? Then
give me this." Negotiate hard in all areas, but let him
"win" the concessions he wants from you, and downplay what
you have won. You'll both be happier in the end. There are
many important principles involved in real estate
negotiation, but you can't go wrong starting with an
understanding of a seller's motivations.
Steve Gillman has invested in real estate for years. To
learn more about real estate negotiation, and get a free
real estate investing course, and see a photo of a beautiful
house he and his wife bought for $17,500, visit
http://www.HousesUnderFiftyThousand.com
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