Friday, September 25, 2009

Essential Negotiation Tips For Orange County Home Buyers!

Whether you're a buyer or a seller, you want to succeed in the realty marketplace. That's natural and reasonable, but what are the steps you need to take to triumph? Negotiation is a complex matter and all transactions are unique. Both sides--buyer and seller--want to feel that the outcome favors them, or at least represents a fair balance of interests. In the usual case, there is a bit of bluff, some give-and-take and neither party gets everything they want.

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Hint #7 - Five Keys to Successful Negotiation So how do you develop a strong bargaining position, one that will help you get the most from a transaction? Experience shows there are five basic keys that will determine who wins at the negotiating table.

1. What Does The Market Say?

At various times, we're in a "buyers" market, a "sellers" market or a market where supply and demand are roughly equal. If possible, you want to be in the market at a time when it favors your position as a buyer or seller. Because all properties are unique, it is possible to buck general trends and have more leverage than the marketplace would seem to allow. For instance, if you have a property in a desirable neighborhood with few sales, you may be able to get a better deal than elsewhere. Or, if you're a buyer who can quickly close, that might be an important negotiating chip when dealing with an owner who just got a new job 500 miles away.

2. Who Has Leverage?

If you're on the front page of the local paper because your business went bust--and the buyer knows it--you have less clout in the bargaining process. Alternatively, if you're among six buyers clamoring for that one special property, forget about dictating an agreement--the owner can sit back and pick the offer which represents the highest price and best terms.............cont'd


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