In Real Estate, the negotiation process to some may seem like a wretched task, but can be stimulating when you are prepared and have a good strategy for your negotiations. Think of your strategy as your master plan, but remember your strategy is only as strong as the tactics you use, which are the tools for implementing your negotiation. Over the next few weeks I will walk you through what I feel are the five steps to negotiate effectively, starting with:
Determine Your Target Price
All effective negotiations starts before you actually sit down at the table. Have a target price in mind prior to the negotiation process and make sure your price is reasonable. Also, balancing your desire to own the property with market price and value fundamentals.
Article provided by Jeannetta Collier