The best thing about negotiating is you don’t have to be a pro negotiator to get a best deal for you on your next property purchasing. Keep in mind few things about how buyers agent negotiate during a deal to get a cheaper deal. Here we will discuss some smart negotiating tips from a buyers agent.
Having Deep Market Knowledge
Having deep market knowledge is very important while purchasing property. You have to know about the area properly in which you desired to buy property and you should compare at least few recent sales to avoid overpaying. People become very emotional and sensitive while purchasing their dream home and while going though their emotions, the vendor or seller encourages purchaser to pay.
Compare Similar Sales
Educate the sales agent that you are serious for the property and give him extra and advanced information to him. If you approach an agent with comparable sales in hand and a grasp of the area's demand for the sort of home, you'll have a better chance of getting the deal. You can also discuss about which recent sales are reliable and comparable sales. Agents will communicate more openly if the buyer has educated themselves properly.
Establish a Positive Relationship with a Representative
Be genuine and true to the sales agent who is working on behalf of the vendor. Treat him very polite and soft as will give you the important information related to the vendor and property like the time period of paying the specified amount, desires of vendor, expectation of vendor or any extra transaction related thing that makes the purchase smoother.
Prior to negotiating, Set Agent Rules
Try to find out that what exactly the vendor wants and how he wants to get paid for the property. If you have ready payment then you may offer him a counter payment as this will impact a lot and you might negotiate more at the time of payment. Check if the vendor is in contact with other buyers and see how he deals with competing buyers. Try to figure out if the discussion is conducted fairly so you don't have to show your cards and risk getting slapped with rejection.
Identify the Property Weakness
While negotiating for the property, you can give the vendor few reason for the discount in property like busy road, opposite to school, needs re-wiring etc. You just need to show agent and vendor that you are interest to buy the property but it should get discounted due to the following issues.
Make the offer clear
Make the offer clear to the vendor and just leave the deal for few days and be sure not to communicate them too early as this will indicate them that you can pay more .
Explain Agent about your Next Plan
If your deal is still not set with any of the vendor then you must have to explain he buyers agent about your next plan for future purpose. If your relations are good with the agent then he/she will know that what are exactly your requirement and will start searching for more deals for you. An agent never want to leave its leading buyer, so he’ll get you another best deal at the earliest.