Final Offer? Maybe Not!

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Negotiating is a delicate process. There are always emotions that get into the equation. Of course there are emotions, its a big ticket item and a house usually has a lot of memories either good or bad in it.

A Real Estate agent is really a mediator between a seller-buyer and two agents. Sometimes that mediation cannot go anywhere because somebody comes in and says this is our first and final offer. While this maybe true in some hard headed people, it is usually not a final offer but more of a knock at the door.

Once a deal gets passed around a few times, one party comes and says this is their final offer, and it does have to end at some point, or else you’ll be negotiating dimes and nickels. The key to a good negotiator is to read when you can go back with a counter offer without getting the other party so upset that they actually walk away. If it comes to that, then forget it and you failed.

The best negotiation practice is to go lower on the price, but not too low that they don’t even look at your deal. You want to call this first offer a knock at the door. (Now my disclaimer is, this scenario is if there are no other offers) The next step would be to go closer to the counter you receive and then after that meet somewhere in the middle, and bang you have a deal.

Its a dance that your agent must know how to play and reading all the players cards like in poker is key to getting the upper hand. The question is, are you at the table with a good hand or just checking your way through.

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