Recommended Negotiating Tactics for Real Estate (websites or books)?

[cr]

Something is only worth what someone will pay for it, not what someone else is asking for it.

I’ve watched people on the TLC shows about buying and I’m sure it’s easy to critique, but they get so emotionally involved. If someone rejects your offer, say adios. If they want to hold on to a deprciating asset while you keep your down payment and gain even a modest 2% interest what have you lost?

[raptorduck]

Not surprising for this board, you have gotten great advice so far.

I would echo the above remarks and add

– the longer on the market, the more realistic the asking price, the more motivated the seller (stating the obvious here, but sometimes people forget).

– if they are still living in it, they are more likely to be sticky sellers.

– never underestimate a seller’s emotional attachment to their home and consequential unrealistic expectation as to price and unwillingness to sell at market despite high carrying costs.

– look for second and vacation homes and the empty homes with sellers already into new homes.

– be aware that if a selling agent tells you they got 3 other offers comming in, it may not be true.

– set some criteria for your negotiation and do not waiver from it.

– Remain detached from your purchase and stick to your rules.

– Don’t get caught up in a bidding war unless you are still in your range.

– patience is the best form of leverage.

– When told by the selling agent that “the market is picking up, has stopped falling, is red hot, lots of activity” tell youreslf they are dyslexic and slowly back away.

– Assume developers will start with higher asking prices. Appearance is everything to them.

– Be creative and put yourself in the seller’s shoes and ask what they need, now, other than the price they want.

– In this market, a strong buyer is almost more important than a high bidder. Demonstrate that you are a strong buyer.

– back up your offer, whatever it is, with data and reason. Comps are not the only reason.

[raptorduck]

Not surprising for this board, you have gotten great advice so far.

I would echo the above remarks and add

– the longer on the market, the more realistic the asking price, the more motivated the seller (stating the obvious here, but sometimes people forget).

– if they are still living in it, they are more likely to be sticky sellers.

– never underestimate a seller’s emotional attachment to their home and consequential unrealistic expectation as to price and unwillingness to sell at market despite high carrying costs.

– look for second and vacation homes and the empty homes with sellers already into new homes.

– be aware that if a selling agent tells you they got 3 other offers comming in, it may not be true.

– set some criteria for your negotiation and do not waiver from it.

– Remain detached from your purchase and stick to your rules.

– Don’t get caught up in a bidding war unless you are still in your range.

– patience is the best form of leverage.

– When told by the selling agent that “the market is picking up, has stopped falling, is red hot, lots of activity” tell youreslf they are dyslexic and slowly back away.

– Assume developers will start with higher asking prices. Appearance is everything to them.

– Be creative and put yourself in the seller’s shoes and ask what they need, now, other than the price they want.

– In this market, a strong buyer is almost more important than a high bidder. Demonstrate that you are a strong buyer.

– back up your offer, whatever it is, with data and reason. Comps are not the only reason.

[raptorduck]

Not surprising for this board, you have gotten great advice so far.

I would echo the above remarks and add

– the longer on the market, the more realistic the asking price, the more motivated the seller (stating the obvious here, but sometimes people forget).

– if they are still living in it, they are more likely to be sticky sellers.

– never underestimate a seller’s emotional attachment to their home and consequential unrealistic expectation as to price and unwillingness to sell at market despite high carrying costs.

– look for second and vacation homes and the empty homes with sellers already into new homes.

– be aware that if a selling agent tells you they got 3 other offers comming in, it may not be true.

– set some criteria for your negotiation and do not waiver from it.

– Remain detached from your purchase and stick to your rules.

– Don’t get caught up in a bidding war unless you are still in your range.

– patience is the best form of leverage.

– When told by the selling agent that “the market is picking up, has stopped falling, is red hot, lots of activity” tell youreslf they are dyslexic and slowly back away.

– Assume developers will start with higher asking prices. Appearance is everything to them.

– Be creative and put yourself in the seller’s shoes and ask what they need, now, other than the price they want.

– In this market, a strong buyer is almost more important than a high bidder. Demonstrate that you are a strong buyer.

– back up your offer, whatever it is, with data and reason. Comps are not the only reason.

[raptorduck]

Not surprising for this board, you have gotten great advice so far.

I would echo the above remarks and add

– the longer on the market, the more realistic the asking price, the more motivated the seller (stating the obvious here, but sometimes people forget).

– if they are still living in it, they are more likely to be sticky sellers.

– never underestimate a seller’s emotional attachment to their home and consequential unrealistic expectation as to price and unwillingness to sell at market despite high carrying costs.

– look for second and vacation homes and the empty homes with sellers already into new homes.

– be aware that if a selling agent tells you they got 3 other offers comming in, it may not be true.

– set some criteria for your negotiation and do not waiver from it.

– Remain detached from your purchase and stick to your rules.

– Don’t get caught up in a bidding war unless you are still in your range.

– patience is the best form of leverage.

– When told by the selling agent that “the market is picking up, has stopped falling, is red hot, lots of activity” tell youreslf they are dyslexic and slowly back away.

– Assume developers will start with higher asking prices. Appearance is everything to them.

– Be creative and put yourself in the seller’s shoes and ask what they need, now, other than the price they want.

– In this market, a strong buyer is almost more important than a high bidder. Demonstrate that you are a strong buyer.

– back up your offer, whatever it is, with data and reason. Comps are not the only reason.

[raptorduck]

Not surprising for this board, you have gotten great advice so far.

I would echo the above remarks and add

– the longer on the market, the more realistic the asking price, the more motivated the seller (stating the obvious here, but sometimes people forget).

– if they are still living in it, they are more likely to be sticky sellers.

– never underestimate a seller’s emotional attachment to their home and consequential unrealistic expectation as to price and unwillingness to sell at market despite high carrying costs.

– look for second and vacation homes and the empty homes with sellers already into new homes.

– be aware that if a selling agent tells you they got 3 other offers comming in, it may not be true.

– set some criteria for your negotiation and do not waiver from it.

– Remain detached from your purchase and stick to your rules.

– Don’t get caught up in a bidding war unless you are still in your range.

– patience is the best form of leverage.

– When told by the selling agent that “the market is picking up, has stopped falling, is red hot, lots of activity” tell youreslf they are dyslexic and slowly back away.

– Assume developers will start with higher asking prices. Appearance is everything to them.

– Be creative and put yourself in the seller’s shoes and ask what they need, now, other than the price they want.

– In this market, a strong buyer is almost more important than a high bidder. Demonstrate that you are a strong buyer.

– back up your offer, whatever it is, with data and reason. Comps are not the only reason.

[raptorduck]

On the La Jolla thing. I have a collegue I was at a dinner with the other day who bought there in 2006. I heard him telling someone at dinner about the market there and that “it is immune from the downturn and prices are going up and will keep going up.”

I would say the majority of new sellers feel this way, as if they have been stuck in 2004-2005 and living under a rock before they decided to list. Let them wake up for a few months before you reveal interest in their property. In some cases, it takes much much longer. There are lots of examples on the market right now.

[raptorduck]

On the La Jolla thing. I have a collegue I was at a dinner with the other day who bought there in 2006. I heard him telling someone at dinner about the market there and that “it is immune from the downturn and prices are going up and will keep going up.”

I would say the majority of new sellers feel this way, as if they have been stuck in 2004-2005 and living under a rock before they decided to list. Let them wake up for a few months before you reveal interest in their property. In some cases, it takes much much longer. There are lots of examples on the market right now.

[raptorduck]

On the La Jolla thing. I have a collegue I was at a dinner with the other day who bought there in 2006. I heard him telling someone at dinner about the market there and that “it is immune from the downturn and prices are going up and will keep going up.”

I would say the majority of new sellers feel this way, as if they have been stuck in 2004-2005 and living under a rock before they decided to list. Let them wake up for a few months before you reveal interest in their property. In some cases, it takes much much longer. There are lots of examples on the market right now.

[raptorduck]

On the La Jolla thing. I have a collegue I was at a dinner with the other day who bought there in 2006. I heard him telling someone at dinner about the market there and that “it is immune from the downturn and prices are going up and will keep going up.”

I would say the majority of new sellers feel this way, as if they have been stuck in 2004-2005 and living under a rock before they decided to list. Let them wake up for a few months before you reveal interest in their property. In some cases, it takes much much longer. There are lots of examples on the market right now.

[raptorduck]

On the La Jolla thing. I have a collegue I was at a dinner with the other day who bought there in 2006. I heard him telling someone at dinner about the market there and that “it is immune from the downturn and prices are going up and will keep going up.”

I would say the majority of new sellers feel this way, as if they have been stuck in 2004-2005 and living under a rock before they decided to list. Let them wake up for a few months before you reveal interest in their property. In some cases, it takes much much longer. There are lots of examples on the market right now.

[XBoxBoy]

Raptor, Can’t tell you how many people have said to me in the last several months that things sure have dropped, but that they are okay because of some nonsensical reason. It’s really an incredible phenomenon of humans to rationalize away their losses.

XBoxBoy

[XBoxBoy]

Raptor, Can’t tell you how many people have said to me in the last several months that things sure have dropped, but that they are okay because of some nonsensical reason. It’s really an incredible phenomenon of humans to rationalize away their losses.

XBoxBoy

[XBoxBoy]

Raptor, Can’t tell you how many people have said to me in the last several months that things sure have dropped, but that they are okay because of some nonsensical reason. It’s really an incredible phenomenon of humans to rationalize away their losses.

XBoxBoy

[XBoxBoy]

Raptor, Can’t tell you how many people have said to me in the last several months that things sure have dropped, but that they are okay because of some nonsensical reason. It’s really an incredible phenomenon of humans to rationalize away their losses.

XBoxBoy

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