Time is important…

Did you know that time can be one of the most important factors in negotiating?

Here’s a few reasons why…

• Firstly, if you are in a position to string a negotiation out a little longer, you’ll be able to find out more about the seller and the extra information may be useful throughout the negotiation process.
• On the other hand, if your questioning and research reveal that the seller has a deadline to meet, you may be able to negotiate a better deal in exchange for quick settlement.
• Time can also work to your advantage if the real estate agent’s sole agency listing is about to expire, as they may promote your quick sale for personal reasons. Never underestimate the power of the real estate agent.
• When you are making an offer be sure to think about your timing carefully. For instance, if a property is going to auction and you don’t think the seller will get the price they are hoping for, it may be best to wait until after the auction to make an offer.

The seller is likely to reject most offers before the auction but may be more open to considering offers if they don’t reach their reserve price at the auction.

In this case you’ll be in a stronger position because you will know the outcome of the auction and the seller will know that you have this information.

However, there are times when you may choose not to enter into a great deal of negotiation and make an offer immediately.

For instance, if you are buying a family home and you and your partner have found your ‘dream home’.

In this case, because it is often more of an emotional decision, you may be willing to pay a little more than you would otherwise for an investment property.

If you’d like to learn more about becoming a better negotiator, please visit:

http://www.RealEstateSecrets.com.au/negotiating

Warm Regards

Hans Jakobi – Your Wealth Coach®
Real Estate Secrets