You need to hire the best agent to negotiate on your behalf when offers are being presented. As a buyer, you need to know a few basics about the negotiating process because, even when you have a top Realtor on your side, you are ultimately in charge of making the final decision.
Here are the basics of the negotiation process and what you need to understand about it.
1. Be Flexible
If you have your heart set on one house and are completely stuck on it, this “must-have” feeling will be picked up by the seller and his agent. It’s hard to disguise the “need to have it” mentality, and you may not end up with the best price because of it. Try to keep things calm and remember that finding one house you love means that there are probably a lot of other houses out there that you could love as well.
2. Hire a Negotiator
Find out what type of skills your agent has as a negotiator. The Louisville agent you choose will be acting on your behalf to get the best price. You need to know ahead of time exactly what you can expect when buying a home in Louisville. Talk about it early and often.
3. View the Seller Objectively
The seller is doing the same thing as you are, keeping as much money for themselves as possible. He may have lived in this house for many years and be facing a hard time letting it go. The house probably means a lot more to the seller than you could ever realize. A lot of memories may have been made in the dwelling that are priceless.
If you find that the seller does not want to negotiate as much as you’d expect, keep these things in mind. Work with your Louisville real estate agent to avoid frustration. Your agent has worked with many reluctant sellers before and knows exactly how to deal with them.
4. Find Out Why the Offer Was Rejected
If you are buying a home in Louisville and your offer has been turned down, don’t give up right away. Find out more about the rejection and see if there are any other concerns other than price. Sometimes your price can be just slightly lower than an offer that they would accept. Your agent will be able to find out more for you.
5. Give Reasonable Offers
It is really insulting to send an offer that is extremely low to the seller. When you are trying to find the best price when you are buying a home in Louisville, you have the right make offers that are low, but they still should be reasonable. An offer that is too low to be considered reasonable is simply a waste of time for everybody concerned.
Remember that there are two sides to buying a home in Louisville. The buyer wants to buy the home and the seller wants to sell it. Both sides will have an agent working on their behalf and the outcome should have both sides agreeing on an offer and happy with it.