There are a lot of things that could sink a deal, but during real estate negotiations, there are several factors that are important to keep it from running off course. Jose Perez of real estate services firm PCMS Consulting lists five things that come into play during a successful negotiation.
- Home buyers and sellers should never negotiate directly.
- Try to minimize any surprises. Spelling out all of the factors involved in the transaction as early as possible can help get the ball rolling smoothly.
- Each party should be able to back up their position with logic and facts. Perez says there should be no late-game requests “just because.”
- Transparency is critical because it will avoid distrust and stalled deals.
- Don’t let egos get in the way of a deal closing. “When you bring your ego to the table, you’re negotiating against yourself,” Perez says.
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Source: RISMedia 12/01/2014