Real estate negotiating

Good real estate negotiating is built on clear, open communication. Often times two separate parties on opposite sides of an issue will worry about what the other side might want, might say, might react to. A good deal of undue stress in negotiations comes before you even begin talking to the other side. This is unneeded and unhelpful.

First, understand your own position and desires. It is difficult to get exactly what you want in a negotiation if you don’t know exactly what that is. What do you want out of this deal? In real estate transactions, “money” is most often people’s immediate answer, but you may find that there are other, more valuable outcomes you can get: time, flexibility, or maybe that antique flagpole in the front yard. Getting creative in negotiation almost always unsticks a sticking point and moves the deal along.

Then, listen. You know your own wants. The other side is no different. Often times, what two sides want aren’t even the same thing and the deal can be resolved easily. Those kind of “win-wins” happen more often than you think. In situations where all parties desire the same thing, you can all mutually recognize that fact and then think of alternative ways to make everyone happy. In the many years of real estate negotiations that I’ve seen, the owners, buyers,  and agents who walk away happy are the ones who try to make the other side happy, too. Click here to learn the details.

Let’s look at some specific questions sent in by DearMonty readers from across the country.

  • Are real estate commissions fair?

    Reader Question: Are real estate commissions fair? I’m the homeowner. I just listed my home with a real estate agent. I told a friend I was selling, and they want to buy it for cash. I called my agent to negotiate the $24,000 commission because it hasn’t been on the market 24 hours. My agent…

  • Home Seller Upset As Buyer Refuses To Share The Appraisal

    Seller upset buyer refuses to share the appraisal and is considering backing out and renting the house. Seller does not realize the consequences for taking this route. Calming down and patience may help.

  • Seller Stumped With Fireplace Inspection

    Reader Question: A potential buyer has made an offer on our home with a contingency for a fireplace inspection. The chimney inspector started inside and took many measurements of the fireplace and the mantle. Then he went outside and lowered a special camera down the chimney. He came back inside the house and showed me…

  • How illegal is raising the price $5,000 for buyer closing cost?

      Reader Question: I recently sold a home, and the buyer didn’t have enough money for closing costs. They asked me to sign papers that raised the purchase price $5,000. I want to know because the buyer got $1,000.00 of my hard-earned money. On the day of the closing, I hadn’t cleaned everything, so I…

  • Four reasons to track home improvements

    Our readers this week are wondering about sharing improvement information with a potential buyer for their home. It is common for buyers to research properties they become interested in, another twist created with the evolution of the internet. The prospect asking is a sign of keen interest. It could bode well for our readers.

  • We have an offer for a million dollars over appraisal

    Reader Question: We have an offer for a million dollars over appraisal for our building and parking lot from a developer. They offered 2.2 million dollars with a one-year requirement for us to vacate. We have a separate independent appraisal valuing the two parcels at about $1.2 million. The plan is to demolish the building and…