Real estate negotiating

Good real estate negotiating is built on clear, open communication. Often times two separate parties on opposite sides of an issue will worry about what the other side might want, might say, might react to. A good deal of undue stress in negotiations comes before you even begin talking to the other side. This is unneeded and unhelpful.

First, understand your own position and desires. It is difficult to get exactly what you want in a negotiation if you don’t know exactly what that is. What do you want out of this deal? In real estate transactions, “money” is most often people’s immediate answer, but you may find that there are other, more valuable outcomes you can get: time, flexibility, or maybe that antique flagpole in the front yard. Getting creative in negotiation almost always unsticks a sticking point and moves the deal along.

Then, listen. You know your own wants. The other side is no different. Often times, what two sides want are the same thing and the deal can be resolved easily. Those kind of “win-wins” happen more often than you think. In situations where all parties desire the same thing, you can all mutually recognize that fact and then think of alternative ways to make everyone happy. In the many years of real estate negotiations that I’ve seen, the owners, buyers,  and agents who walk away happy are the ones who try to make the other side happy, too. Click here to learn the details.

Read more Q&A articles about the “Negotiating” stage of the Home Buying process:

  • When the listing agent and seller are great friends

    Reader Question: Just put an offer on a house, and we are under contract. The listing agent and seller are great friends, live on the same street, and have known each other for many years. They are friends with a contractor who does work for them. Following my home inspection, some items came up. The…

  • Five Tips Avoiding a Bidding War

    Reader Question: We tried to buy four homes in 2019. We missed on all of them. We live in one of the cities that always makes the news about multiple offers and a hot market. We were not happy with our agent, but it may just be a case of us looking for someone to…

  • Get outside help when dealing direct in real estate

      Reader Question: We are buying a house direct from the owner. The property also contains a partially burned-out mobile home relatively close to the house. It appears to be a total loss. The house was not damaged. Our question is, does the seller have the right to request we replace the mobile home? We…

  • Pros and Cons of Buying from the Listing Agent

    Reader Question: I have found a home, and I want to make an offer. There are stories about why and why not it is a good idea to use the listing agent. What are the pros and cons of going directly to the listing agent to make an offer? Monty’s Answer: Some homebuyers never realize…

  • Our offer was accepted. How do we get out?

      Reader Question: We have an accepted offer on a home. The home we really wanted has come down in price, and we would love to get it. Can we do this? Monty’s Answer: The first consideration is to accept that going down this road will involve a cost to you to determine if it…

  • Should I buy a home with a standing water problem? 



      Reader Question: The house I am buying has a sump pump because of a standing water problem. ​I have looked at the home three times and each time I saw standing water in the next door neighbor’s yard. They had dug a long trench which runs along the side of their house facing my…