Secrets of Real Estate Negotiations: The Wolf’s Negotiating Tip # 5
“Give & Take”
Remember: For every action, there is an equal and opposite reaction. I use the “Give & Take” in a negotiation when the other party is trying to ask for something more (especially at the last minute) and expects me to just give it to them because we are so close to coming to a conclusion. The seller might say that they, all of a sudden, want to keep the appliances that we agreed came with the house.
You could say, “Well, I definitely need to have appliances with the house because I’m going to fill it with somebody who will need them. So, what your saying is that you would like to keep these appliances and adjust the selling price accordingly so we have the same deal we agreed to?” This will roll the ball back in thier court and keep you in control of the negotiation. It will let them know that you intend to receive something in return everytime they ask for something extra in the deal in order to keep things fair. This technique also works with closing costs, repairs, move-out dates, & other personal property items that where supposed to convey, etc.
The “Give & Take” is simple, but keeps the scales of the negotiation balanced. Apply this technique to make and save hundreds, maybe even thousands, in every deal that you do. Enjoy.
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