NEGOTIATING STRATEGIES

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Not everyone is a born negotiator, but we all know when we can do better – these days, it’s even expected that some ‘haggling’ will occur before an agreement is reached. Whether you are buying or selling in Palm Beach, feel free to negotiate, but remember to be sensible about your negotiating strategies, and know your own limits while anticipating others.

The asking price of the home is where most people start, and understandably so. But buyers should be reasonable. Asking to cut 25% off the asking price a luxury home in Hillsboro Mile, for example, is not a good place to start. Instead of opening up negotiations, you will more likely to successfully end them for good. Really study the market and figure out a reasonable amount to start from – you will most likely meet in the middle, so choose carefully.

But negotiating strategies don’t just have to focus on the price of a home. Leveraging price negotiations against home improvements – such as for a resale home in Boca Raton – can benefit both the buyer and seller. Sellers may be able to bargain out of a price drop by offering improvements that cost a fraction of the proposed discount. Having improvements agreed upon prior to the sale can also save buyers any renovation headaches – a good incentive to temper the price reduction as well.

In either case, relying on your realtor to help shape your negotiating strategies can be to your advantage. If your Palm Beach realtor is experienced in the nuances of all the local areas from Manalapan to Wellington, he or she will be able to carefully advise you on your negotiation tactics, and even execute them on your behalf.

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