Questions On Real Estate Education

963 WordsFeb 12, 20164 Pages
1. Fail to ask what you want: The first critical step in any negotiation such as real estate is failing to ask what you really want. You will be surprised how often you can get what you want in a negotiation if you just ask. But, a word of caution if you declare your intentions, it is impossible to take them back. You basically put yourself in a very corner. For example, if you give an offer that is too high it will be difficult to negotiate it down by a significant amount. It is more advisable to ask for a number you really want. This number will be based on your data and your BATNA and what you price you are willing to walk away. According to Fortune Builders a real estate education company states, “one of the the most common reasons that people fail to ask what they want is either fear of rejection or fear of confrontation.” By asking for reduced purchase price, contingencies etc. many people assume that the counter party will say no or question their sanity. The fact is if you have done preparation and your preparation and numbers support the offer you should feel more confident to ask what you want for. For example, if you are paying in cash and there are a lot of items that need to be fixed and you base your price on a firm price with no contingencies than you are taking on a certain amount of risk. The level of risk is debatable, but you are supporting you offer based on your preparation for the negotiation and facts. The seller negotiating party may not like,

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