Stan
I like to think that I am a very very good negotiater. To learn all my tactics you need to hire me but I am a big believer in what you said about doing all your homework prior to making an offer and learning as much as you can about the sellers motivation. Knowledge is power and understanding how to use it is creates real negotiating power. I spend several hours researching the sellers and tend to choreograph the negotiations in advance. I explain to my clients exactly what I am trying to do, how the seller is likely to respond and how we will handle their response. Understanding the residential purchase contract and how to exploit it regarding timing is also key. I negotiated $20,000 credits for my buyers on the day of contingency removal from sellers that were sweating out losing the deal at the 11th hour in 2 occassions during 2005. It didn’t take strong arm tactics, just an understanding of seller psychology and their personal circumstances.
Here’s the proof I use to defend my ability. While I represented nearly all sellers in 2006, I have several clients that listened to my advice while purchasing in 2005. Most people who purchased in 2005 are well underwater today. The prices my clients paid still hold up extremely well with the current comps while the properties we walked from or those I directed them away from have not.
