Search for the opportunity or the loan with the lowest cost to achieve a better and cheaper property buy

Seek the best option or loan with the lowest rate, as a result your property purchase will be cheaper. You can also win by negotiating your buying price as long as this is done with the right tactic. Negotiation techniques are not only a talent, but a whole science. The American magazine “Parent Time” suggests certain techniques in negotiations, depending on the situation, and gives the following probable results

Technique 1 - Offer a price at the lowest rate that you are prepared to give and then work upwards.

Probable outcome: This usually works for properties found in the cheaper real estate areas and during a period where RE market is low. You give your offer, obviously the owner will decline, then you give a higher offer gradually reaching a price that the owner will accept, of course the price being in the price range that you have set for yourself

Technique 2 - Your offer is close to the price asked

This technique works better in an up market area. Probable outcome : The seller can categorically ask you to raise your offer

Technique 3 - Offer the highest price that you can allocate.

This tactic is more effective in the most coveted markets. Probable outcome: The seller can reject offer, hence withdrawing your offer.

Technique 4 - Make some compromises in the negotiations.

This tactic functions better in markets or in cases where the seller has high motives. Probable outcome: The seller can “trade” the economic concessions in order that you agree to buy the house earlier or to undertake any repairs needed to be undertaken after the inspection.

Technique 5 - Require something that in reality you do not want in order to you gain something else.

This tactic is effective in most cases. Likely result: The salesman rejects initially your proposal, so that you can negotiate again, receding in what you do not want, and thus achieve lower price or some concession on behalf of the salesman.

Technique 6 - Make you offer with small increases.

This tactic is more effective in the high priced (over priced) regions and at the time where the real estate demand is down. Probable outcome: The seller can agree to a lower price than the one that he initially asked for, give him time to adapted to the idea and you can come back with a slightly improved offer.

Technique 7 - Focus on things that you can face in order for you to maintain the upper hand of negotiation and therefore achieve your objective.

This tactic functions better when you are prepared to go through a lot of rounds of negotiation. Probable outcome: Seller and buyers are reconciled after they have solved the easier subjects.

Technique 8 - Become unforeseeable.

This tactic is more effective after a number of unsuccessful rounds of negotiations. Probable results: The seller accepts your offer, after surprisingly changing your offer considerably

Technique 9 - Make two offers.

This tactic works better after a lot of rounds of negotiation. Probable results: The seller accepts one of the two scenarios offered to him.

Technique 10 - Share the difference.

This is most effective when seller and buyer prices are found near to what both are looking for respectively. Probable outcome: The middle ground has to be found and an agreement on a price precisely in the middle re the offer - demand.

Technique 11 - You place a date of expiry in regards the action.

This tactic functions well in all circumstances. Probable outcome: Buyer and seller act faster and decisively under the pressure of time.

from ΒΗΜΑ, 07/11/1999 , Page.: U12