Leading Real Estate Negotiations
Real estate negotiations are the life’s blood of real estate, and far too few real estate agents realize that successful negotiations are what make or break deals. The first thing most consumers realize is that homes are only listed at one price and usually sell for another. Everything is up to negotiation.
In the retail world it’s usually a whole lot different than buying a home or other property. Prices are usually set but most consumers these days look for deals on everything they buy, and that includes a home. The Las Vegas real estate market has taught many of us that prices rise and fall with the times and that the U.S. economy is far from certain. At the very least, most of us shop for discounts.
Most retail clerks don’t really care whether you make a purchase or not, but in the world of real estate it’s a whole lot different. From the time consumers begin to shop, most shop for the best deal they can get on a mortgage and then go through a series of decision making processes to purchase a home. Essential negotiating strategies include a series of steps to get the best deal possible. In this day and age it’s important to keep a poker face and not exclaim loudly that “It’s the perfect home,” particularly when you are viewing homes since many are equipped with nanny cameras to keep track of personal property and home showings.
It’s best to keep your cool and not display a great interest in a home until you leave the premises and then discuss it with your real estate agent. Otherwise, there is little incentive for the other party to negotiate and you could end up paying top dollar. The strength of your negotiating position relies on normal market indicators, including supply and demand. But there are also many other issues that are part of the process.
Price and terms are fundamental to any real estate transaction. With near record low mortgage rates available, it’s often easy to obtain a low mortgage but it can be more difficult to purchase property with the terms that work for all parties. Making sure that a real estate transaction closes at a time that is good for all parties and that a home is in good condition are just a couple of the most common conditions. Home inspections, including pest and termite evaluations and checking for appliance and construction flaws should be included in any home inspection.
As a buyer, you have an opportunity to accept a property “as is” in the state of Nevada or negotiate repairs and improvements at the time a contract to purchase a home is negotiated. As many of the possible issues that could cause problems in the future should be taken care of in contract negotiations up front. It’s best not to let things linger or become a possible problem later.
Real estate negotiations that are successful for clients take years to perfect, and with more than two decades of experience representing clients Mike Colpitts offers his clients a major advantage. There’s no guarantee that you’ll be able to win that million dollar house for pennies on the dollar, but you’ll have a major advantage when you roll the dice in Las Vegas real estate with Mike.