How to Negotiate a lower price on a property [6 Mistakes to Avoid]

In today’s video I’m going to show you exactly how to research and negotiate before making an offer to purchase a home, step by step so keep watching.

Today I’m going to walk you through 6 things you need to do before making an offer on a property, breaking down how to research and negotiate like a boss so let’s jump in.

00:40 1 - Gather intel, the things to look for
03:05 2 - The tools of the titans, apps to use
04:40 3 - Lowballing your offer
05:52 4 - Mistakes to avoid when negotiating
08:01 5 - How to negotiate like a boss
10:35 6 - Steps in making an offer

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1 - Gather intel

The most important thing when looking to make an offer is to gather as much information as possible. As it’s through this intelligence gathering process you’ll uncover whether you can begin your negotiation low, or if you’ll need to be aggressive and cut to the chase rather than playing hardball. Each property presents a unique situation, therefore, to be successful will need to adapt accordingly.
Here are the 5 things you want to do to gather intel on the property;
1 - who owns the property.

How you negotiate with an owner vs an investor of the property is vastly different. So knowing how to own the property is vital because of this. So here are the questions you’ll want to ask the agent;
-who owns the property

-how long have they owned the home

-were they living there or is it an investment property

Here are 6 big mistakes people make when negotiating.

1 Speaking, rather than listening. The movies have it wrong! The one who does all the talking isn’t the one who wins. It’s the one who asks who is the one who’s in control. It’s because in doing so you control the conversation and where it goes.

2 Being over invested in the result. In entering any negotiation, there are so many things outside your control. For one, the seller's expectations, therefore it’s extremely important to understand this and therefore keep a level of separation. Real estate agents get record prices from emotional buying decisions.
3 If you fail to prepare, then prepare to fail. It’s that simple. So before even considering to begin negotiations, have your game plan written down, and follow this. So, that if the time does come and you reach your limit, that you walk away.
4 Revealing all your cards. Too often is this the case. Remember that the real estate agent works for the seller. This is who pays him or her for their service. So be careful what you share with the agent as in the end will be used to the advantage of the seller.
5 Not creating dialogue. Whilst the agent doesn’t work for you, it’s best to keep them on side, no matter what they’ve done or said. The goal of negotiation is to create a dialogue, therefore will want to do everything to maintain this. Keep your cool, show respect and keep everything politically correct so to say. Remember that both parties have the option to walk away at a moment's notice and by understanding this can work towards mutual grounds.
6 Assuming everything’s set. Know this, everything’s up for grabs and there isn’t one thing that can’t be negotiated. From price, to terms, it’s all on the table to be agreed upon. So long as both parties agree, then it’s on. So in negotiations there are two areas which can be won, either terms or price. So, if your counterpart is pushing for price, you push for terms, and vice versa. Remember to always have an angle.

Видео How to Negotiate a lower price on a property [6 Mistakes to Avoid] канала Mortgage Broker Brisbane - Hunter Galloway