Surveys have shown that the group of buyers least likely to offer less than the asking price or to enter into negotiations when buying their home are first-time buyers. This is hardly surprising given they have, by definition, no experience in this field.
In contrast, the estate agent is selling property for clients all day, every day. They do this for a living. They also have another huge advantage. It’s not their money, it’s not their decision and it’s not their dream home!
This puts a motivated buyer at a significant disadvantage. This is where being organised, having a plan of attack and doing your best Meryl Streep or Kenneth Brannah-style acting performance can help you!
As with other things in life, being spoilt for choice will enable you to approach the negotiation in a stronger position. If you have three properties that you like you’re going to be a lot better placed to be a tough negotiator. And even if you don’t, if the seller’s agent thinks you do, that can’t hurt!
What can you do to improve your negotiating position? Here are a few simple tips that too many people ignore;
Last but not least, remember the old adage, ‘don’t ask and you don’t get’. You’d be amazed at what’s negotiable. Happy house-hunting!
A recent study by Boon Brokers where 1,000 people who had used an estate agent over the last year were surveyed, showed that a whopping 52% said they were pressured into using the estate agents’ in-house mortgage broker.
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