3 Tips for Negotiating Good Real Estate Deals

The majority of home-buyers and –sellers rely on real estate professionals to help them negotiate deals with buying or selling their homes. However, as a real estate investor, you may opt to handle negotiations yourself in order to save money or hone in on deals that will work best for you. If you do so, then you need to be prepared to negotiate with a vast array of personality types effectively in order to create a productive situation for both yourself and the other party. Here are three tips to help negotiate good real estate deals:
1.Over-research
Find out everything you can – both good and bad – about the property and the area. Having all the information will help you know just how high it is realistic to go and just how low you can make your initial offer without sending a seller stomping away from the table.

2.Have a conversation with the other party
Find out what motivates the other party. If they are selling, find out why they are selling and what they hope to achieve with the sale. In some cases offering speed, cash in place of financing, or some other type of incentive may help you make your offer more attractive. Finding out what will incentivize your borrowers (maybe they need creative financing options or a low down payment and are willing to pay more than market value to get it) will help you make an offer that is nearly impossible to reject.

3.Remember in a good deal, both sides win
Good negotiators are able to come up with scenarios in which both sides feel that they are the “winners” in the deal rather than one side simply forcing the other to take a loss. By doing your research and listening carefully to the other party, you will be able to identify what possibly intangible aspects will make the other party in your deal feel like a winner at the end of the day.

What are your favorite tips for negotiating good deals?

*God Speed*
TLD Investments LLC
http://www.tldinvestmentproperties.com

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