Loading
 

Are you a buyer, seller or an agent?

BuyerSeller Agent

Are you thinking about buying or selling a house?

Are you thinking about buying or selling a house
Posted 13 September 2017

Here are 3 tips to successful negotiating

The Next Address Simple Negotiation Plan

A negotiation plan has three clear and simple stages:

  1. Preparation
  2. Negotiation
  3. Agreement

1. Preparation stage

Ask yourself the following:

  • What do you want to achieve in the negotiation?
  • Set your price now - be realistic and fair: set your lowest possible price and know why you have set this limit.

What are your objectives?

These could range from a long settlement time, to the price, even a rent back option may be needed. Having answers to these questions will guide you through this stage of the negotiation. It is really important to have all the required legal documents ready:

Vendor's Statement (Section32), Offer to Purchase document and a sample Contract of Sale

There are blogs and videos 

What is a Vendor's Statement or a Section 32?

How to buy a home using a Offer to Purchase document

Contract of Sale: What is it?; and 

Clauses in a Contract of Sale) explaining exactly what these are on the web site. Check them out!

2. Negotiation stage

Communication is so important!

  • Be open and be confident
  • You know your home: Be persuasive and list all those benefits. You also know its negative points.
  • Be friendly and honest in your approach
  • Be very clear about what you want: your objectives
  • Be flexible
  • Stay calm
Watch our video Negotiating a purchase price: it is not difficult for more tips!

3. Agreement stage

When you have an agreed price and conditions, put everything in writing. This not only makes that agreement binding but also acts as a future reference for both of you. Use an Offer to Purchase document.

In most cases the buyers legal representative completes the contract of sale documents, which is attached to the Vendor Statement (Section 32). This is then signed by the buyer, usually with their legal representative. The final step is the seller/vendor's signature which completes the sale process.

Property Sold. Congratulations!

Finally: We can help!

Remember, everything is negotiable. Whether it's the length of the settlement, the amount of deposit, pest inspections. etc, both parties have to agree to the terms. If you still feel uncomfortable about this process, we offer access to a skilled negotiator who will manage the negotiations between the parties for a small fee.

Next Address: Together, let's get you moving!

 

 

Comments

Leave a comment
Lisa Hayden
on 1st July, 2016
Thanks for this article Julie. We agree the negotiation process is the most important element of the real estate transaction. At Hayden Real Estate our focus is on the buyers highest price, not the lowest price the seller will accept. The seller has only one chance to get the most out of their "investment" when they sell. We suggest all sellers ask the question of anyone involved in the sale - "What strategies will you use to help me get the highest possible price?" We've got 42 strategies that we use! Thanks for the opportunity to engage in great discussion!
Next Address Admin
on 1st July, 2016
Thank you Lisa, our goal is to provide as much information to sellers so they can make truly informed decisions. This is one of the areas where people under'sell" themselves. Julie.

Leave a comment