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In a competitive real estate market like ours in Salt Lake City, it’s important to understand how to negotiate well. Fortunately, I have some advice if you’re preparing to buy or sell a home to share with you today!
- Know your margins in advance. Know the highest amount you’re willing to bid for a home or the very lowest you’d be willing to sell before. Understand those numbers well before entering a negotiation process. We don’t want you making those decisions in a stressful situation, especially during a close negotiation.
- Consider a few concessions you would consider. Hold those in reserve just in case they’re required to keep a negotiation moving forward.
- Never make a concession without asking for something in return. Anytime we receive something for nothing or a little too easy, we end up feeling like we should’ve asked for more. You want to nip that feeling in the bud!
- Don’t take it personal. I know this can be difficult for some of us. I can’t name another item that can derail a negotiation faster than personal issues getting in the way of a transaction.
- Always be willing to walk away. If you’re feeling too much pressure or giving away too much in a deal, it’s okay to say no. Thank the people for their offer, but pass. There will always be another deal out there for you, which could be much better!
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If you’re feeling too much pressure or giving away too much in a deal, it’s okay to say no.
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If you’re thinking about buying or selling a home in the surrounding Salt Lake City area, reach out today! I’m available by phone and email. I look forward to hearing from you soon!
