Negotiating Tactics That Hurt

Dated: July 29 2020

Views: 223

Negotiation is a subtle art in real estate, but skilled negotiators can usually find some common ground that satisfies all parties. On the other hand, using the wrong negotiation tactics can sink a deal pretty quickly. Here are some negotiation tactics buyers (and real estate professionals) should avoid:

  1. Lowball offers: Going far below market value when you make an offer damages your credibility as a buyer and can be insulting to the seller. The seller has a range in mind that they’ll accept, and if you’re not even approaching the low end of that range, they won’t even consider the offer.
  2. Incremental negotiations: Don’t continue to go back to the seller with small increases in your offer ($1,000 or less). The constant back-and-forth can grow tiresome and lead the seller to consider other opportunities.
  3. “Take it or leave it”: Try not to draw a line in the sand with your initial offer. The seller can get defensive and consider other offers if you immediately show that you’re unwilling to budge. Even if it’s true, don’t make a show of it.
  4. Nitpicking after inspection: Obviously, if the inspection reveals a major issue, it should be factored into the final sale price. But insisting on a lower price for every minor repair can put negotiations in a stalemate.
  5. Asking for more, more, more: Some buyers will request that the sellers throw in add-ons like furniture or appliances that weren’t included in the listing. Try to avoid giving the seller a reason to build up resentment and think that you’re being greedy.
Blog author image

Jeanne Wild

With her drive to provide exceptional customer service, attention to detail, and her past experience in marketing for a privately held software company, Jeanne is the perfect person to ensure your hom....

Latest Blog Posts

1220 Brockley Ave., Lakewood, OH 44107 - Duplex for Sale in Lakewood

1220 Brockley Ave., Lakewood, OH 44107Two unit up/down duplex in Lakewood. This property is already creating steady cash flow and is ready for its next owner/investor! Each unit has its own entry, a

Read More

1502 Huntington Lane, Cleveland Heights, OH 44118-Home for Sale in Cleveland Heights

Don’t miss this light, bright, and cheery 2 bed, 2.5 bath townhouse in Cleveland Heights where you can enjoy a low maintenance lifestyle close to everything! The main level offers high

Read More

15580 N. Ridge Dr., Novelty, OH 44072 - Homes for Sale in Novelty

15580 N. Ridge Dr., Novelty, OH 44072Don’t miss this fabulous lakefront property! Tucked away on 3.84 private acres in beautiful Deer Lake Estates, this home offers the best of both worlds; a

Read More

16865 Knolls Way, Chagrin Falls, OH 44023

Don’t miss this warm, inviting, and beautifully kept condo with a first-floor master suite in a private gated community and Chagrin Falls schools! From the moment you enter you will fall in

Read More