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Negotiation Tips for Real Estate

Negotiations skills are paramount to getting the best price for your home.  Employing ethical and effective negotiating skills in real estate negotiations has both saved and earned our clients many hundreds of thousands of dollars.

While a qualified Realtor will handle the direct negotiations with your buyer’s agent, there are a few things that every listing client should keep in mind during the negotiations process.

  • Negotiations are not simply limited to price.  By incorporating other factors a skilled negotiator can bring two parties together creating a win-win outcome.  Even when parties are far apart in price at the beginning the incorporation of closing dates, conveyances and other factors can produce an outcome where both parties feel completely satisfied.
  • Understand the other side's needs. Of course you know what you want, but listing to the other side helps in two big ways. First it puts the other party at ease because they feel that they are understood. Second you know what is important to them and you have a better idea of what it will take to close the deal.
  • Know the value of what you are selling. Look for similar Real Estate in our Durango Listings to see what competing properties are trying to sell for.
  • Be Prepared. Make sure that you strengthen your position by eliminating road blocks and objections from the start. Review our home buyer's checklist and home sellers checklist for tips on being prepared for the negotiation stage.
  • Be flexible. Compromise is a possible outcome, but by being a truly flexible negotiator you open your mind to options that are better than either party originally envisions, This is the true meaning of win-win negotiations.
  • Build upon agreement. Rather than stalling on big differences, try putting them aside temporarily while you work out the easer issues, when you have made more progress you can leverage the investments of trust and effort you both have made and perhaps the big issues will be more manageable.
  • Seek out the best advice, even skilled business negotiators will benefit from the advice of a real estate professional. Realtors are trained in the art of Real Estate Negotiations and they practice their negotiation skills almost every day. Take advantage of this valuable resource.
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