Real Estate Negotiation Secrets

When you bought your home, you offered less than you were willing to pay, right? That's the most common negotiation technique. For experienced investors, however, that's just one little secret among the many more powerful ones. What else can you do?

How To Make An Offer

1. Offer an odd amount, like $161,793. This gives the impression that you know something the seller doesn't. They may think you have a good reason for that particular price.

2. Play dumb. Ask questions, talk slow, ask for help, and never show off your real estate expertise. Sellers are afraid to budge if they think a smarter person may be taking advantage of them.

3. Use the "limited authority" ploy. Say "I'll have to check with my wife (or partner)." It's easier for sellers to accept that you can't do something, rather than the idea that you won't.

4. Refer to precedent. "My father bought his house this way." If the offer is at all unusual, sellers will feel more comfortable if they know it has been done that way before.

5. Ask for things you don't want. This lets the seller win concessions when negotiating. If you can say, "I guess I don't need the refrigerator, if I can get my price," you're more likely to get your price.

6. Be reluctant. "well, I don't know..." Reluctance gets the seller looking for ways to motivate you, and lets him feel like he's won something when you settle the point.

7. Make the offer their idea. "Are you saying you'd like a later closing, and more earnest money? Well let's do it your way, then. I just need..."

8. Get a yes before the offer. "What if I paid your price, but got my terms? Would that work for you?" Even with a few changes, it will be hard for the seller to say no to an offer he more or less already agreed to.

9. Flatter the seller. Flattery has been proven to be worth an average of $1962 in real estate negotiations. That's a joke, by the way, but you know if he likes you, you'll probably get a better deal.

10. Pass over problems, and return to them later. Agree on every agreeable point first. It will feel like the house is sold then, and it will be difficult for a seller to lose the deal over an issue or two that you need to go in your favor.

You can spend a lot of time looking for cheap houses. Why not spend a little time learning how to purchase every home for less, with some smart negotiation?

Steve Gillman has invested real estate for years. To learn more, and to see a photo of a beautiful house he and his wife bought for $17,500, visit http://www.HousesUnderFiftyThousand.com

In The News:

Real Estate stocks edge lower  Business Standard
Real Estate Transfers  Greenfield Daily Reporter
Real Estate shares gain  Business Standard

Burn, Baby, Burn!

Luxury homes are lots of fun to inspect. Sure, the... Read More

How to Buy a Home When Your in Your Twenties

A Single's Game of Real Estate (Getting started in your... Read More

Be A Realtor With Curb Appeal

Are you a realtor with curb appeal or are you... Read More

What Is Home Staging And How Does It Help To Sell My House

Home staging is the concept of preparing a house for... Read More

San Diego Real Estate, Million Dollar Homes

San Diego county has always been known for its Luxury... Read More

8 Essential Questions to Ask Your Home Inspector

Congratulations! You've decided to purchase a home. We all know... Read More

Think You Can?t Afford Your Own Home, Think Again!

Do you have bad credit, no credit, filed a bankruptcy,... Read More

How Can the Average Person Build Wealth in Real Estate?

Books on real estate are a dime a dozen-and most... Read More

Lake Havasu Real Estate

Lake Havasu real estate is a hot commodity. With surrounding... Read More

Selling Your Home - A FSBOs Guide to Keeping It Safe

Sellers need to keep their safety in mind when prospecting... Read More

Where Does Your Real Estate Commission Fee Go - Why is The Commission so HIGH?

Many who have bought and sold properties through Realtors numerous... Read More

Why Use a Property Manager?

Most experienced property investors use property managers. Why? Because they... Read More

Why Not To Invest In Bulgarian Property

According to research carried out by the Thomson Group, owning... Read More

So, You Wanna Buy Pre-Foreclosures?

So you wanna buy pre-foreclosures? or at the courthouse steps?... Read More

Important Facts For Home Buyers

If you are considering buying a home or have spent... Read More

Real Estate Inspection - Do Your Own

Why should you do your own real estate inspection? To... Read More

Family Feud with an Auction Deadline ? Adventures in Probate/ Estate Purchases

One of our investor students told us of an interesting... Read More

No More Estate Agent Fees

Follow a few simple guidelines, and marketing your own home... Read More

An Often Overlooked Secret of Marketing and Negotiating for Real Estate Investors Looking for Deals

When you call sellers, what do you say? When you... Read More

Home Staging: How to Make Your Tract Home Stand Out in the Crowd

Home sellers who wish to market their property in development... Read More

How to Build a Real Estate Investing Power Team

As you continue to read about real estate investing, you... Read More

Why it is Important to Hire Just One Real Estate Agent to Buy a Home

In our fast paced and frantic real estate market, buying... Read More

Personal Branding Techniques for Real Estate Agents and Brokers

Branding can be done to any product, or any person.... Read More

Things To Consider Before Buying a Condo Hotel or Resort Residence

Resort home ownership, such as condo hotels and fractional shares... Read More

How To Sell Your Home FSBO

You decide to sell your home and believe you can... Read More