Whilst each investment opportunity is different, here are three negotiation tactics that will help you when you’re buying.
Leave your emotions out:
As human’s we’re driven by emotion but it helps to not make our feelings impact property transactions. The last thing a prospective buyer should do is excitedly show their hand or repel the vender due to anger. Strong emotions in business negotiations can lead to a deadlock.
Don’t reveal all your cards:
A good negotiator keeps an ace up their sleeve. Make sure that you don’t open with a bid that’s the most you can afford. Start with a lower amount but make sure it’s not insulting. This way you have wriggle room to reach a compromise with the vendor.
Remain firm on your stance:
It can be easy to get lost in the moment and negotiations can be a tense process which causes buyers to make decisions they ordinarily wouldn’t. Before you start negotiating you must work out what you’re willing to pay and what conditions you’re willing to accept in order for the sale to proceed.