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    David Bell's Real Estate Blog

    Stay tuned to David's blog for updates on the Seattle Real Estate market, as well as other information from David's experience as a Seattle Realtor.

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    David regularly appears on the Brashenomics Radio Show Wednesdays at 3pm on 1150 KKNW and occasionally on other radio shows around the region. Click here to view his previous radio appearances.

    Entries in Negotiation (1)

    Wednesday
    Dec122012

    Radio Show: Smart Negotiation Practices for Buying a Home

    Smart Negotiation Tactics that Actually Work

    When looking for the perfect home, it’s difficult not to be caught up with feelings and sentiment. The residential real estate market couldn’t be more different from the commercial real estate market. Whereas commercial real estate transactions are calm, cool, and collected, residential real estate transactions are fraught with emotion. It comes with the territory. You’re not just looking for property; you’re looking for a potential home.

    However, decisions made with the heart aren’t always the best. When negotiation, don’t let your emotions get the best of you, let cooler heads prevail. Here are some smart negotiation tactics to keep in mind when navigating the real estate market.

    Know what property is worth.

    Patience is a virtue. Once you’ve fallen in love with a home, it’s difficult to dial back the excitement and not purchase it on the spot. But the more prudent negotiators know that it’s always better to track the property and wait. In majority of cases, sellers overestimate the price since most homeowners usually have an inflated idea as to what their homes are worth. It’s a classic case of emotion affecting decisions. Some sellers are so attached to their home and to the time they’ve spent there that they end up raising the value because they think it should be worth more. The property has to be on the market for a while before a seller realizes that maybe he or she overpriced it. In majority of cases, it’s the seller (not the agent) who prices the home and they usually have an exaggerated idea of what their homes are worth.

    Click to read more ...