NEVER TRY THIS: Don’t Insult the Other Side of Your Transaction
This is perhaps the first place many negotiations fail. There is an art to creating an offer to buy a home at the best price. Most people understand that if you walk up to a person selling their home and say to them; “I think you are stupid and I want to buy your home so here is my offer”, the chances that the seller will actually look at your offer is pretty low. This is because you have put the seller into a compromised position. You have forced the seller’s sense of pride to over-rule their desire to sell the home. Once you have put the seller in this position, it is difficult to correct it. Saying something like; “Sorry I called you stupid. Here is an extra 1,lakh rupees to make up for that”, probably isn’t going to fix things. Maybe offering 10 Lakhs to make them feel better would work, but then “Stupid is as Stupid Does”. I have seen very few buyers able to correct the mistake of insulting the seller. Pride is a really big deal.
So, most people understand the obvious concept, but people often don’t realize how many different ways that you can put EITHER a seller or buyer into this defensive position. I have seen buyers take the approach of including a defect-list in their offer which highlights every undesirable feature in the property. They do this sometimes to support a low offer. Either way, this is the same thing as saying “Your house sucks and here is why”. The seller is insulted and either discards the offer, or counters at a higher price than they might have if they were NOT insulted. It is a counterproductive negotiation technique.
Negotiating a Real Estate Deal
Art of Negotiating A Real Estate Deal
Structuring a Real Estate Offer
Tools for Negotiating a Real Estate Deal
Personal Communication When Buying Real Estate
Unwanted Emotions While Negotiating A Real Estate Deal
Low Price War in Real Estate
Negotiate With Data in Real Estate
Use Proper Timing To Negotiate Real Estate Deals
Ask Inappropriate Questions While Negotiating A Real Estate Deal
Making a Counter Offer While Negotiating Real Estate Deal
Incentives Can be Offered by Buyers or Sellers
Strategic Buyers Guide in Real Estate
Strategically Sealing A Real Estate Deal