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Negotiation Tips

"Another HBC™ Law Basic Guide"

Negotiation Tips

"HBC™ Law Basic Guide"

NEVER DISCLOSE YOUR BUDGET.

Best only used when negotiations have collapsed, a last all or nothing try. They’re either really not interested in your price or they are trying to secure a better price either way it’s your last chance. But remember to only pay what you want.

THE BEST YOU CAN GO TO?

This is an aggressive phrase that turn the tables and force a justification. Only use this if you can stay the course and keep up the pressure. The trick to using this phrase is silence. After saying this particular phrase take a moment in complete silence. Maintain this silence for as long as you can. People are uncomfortable with prolonged awkward pauses and will speak just to fill the gap in conversation.

YOUR HOUSE IS UNIQUE.

Never point out that there are no other similar houses you are looking at. Rather, point out that this is one of many. It’s crucial that you have up to date information, so just make sure to do your research.

DON'T HESITATE

Don't be reluctant to try and strike a deal when viewing if you can. If you don't our experience shows that someone will, but if you try you need to go big! If not they may not be tempted to call off all the other set up viewings.

DON'T BE OVER KEEN

We all know this? Most people have an insatiable need to be liked, be friendly, just remember in that moment when you want to make an impression, gain rapport and hopefully influence the deal by being likeable and don't over compliment. You will drive the price up!

CAN MEET IN THE MIDDLE?

How far can you come down/up in price to meet me? Sometimes it’s difficult to work out how much clear blue water there is between you both. Or for that matter how much leeway you may have if you can force the other party to engage on there price. In such a scenario you should use this phrase.

How To Buy Property

How To Buy Property

Practical Guides

An overview of the basics.

1 – Remember an Estate Agent works for commission, their monthly target and the seller (Not you);

2 – The Home Report must be approved by your bank (Check);

3 – Keep your budget to Yourself. Don’t tell the seller or their Estate Agent;

4 – Surveys set the value so check prices of similar properties; (We can help)

5 – Make the seller & Estate Agent (best if its a property listed by another) know you’re looking at other properties;

6 – Don’t be over enthusiastic with the seller – If you are keen you will pay more;

7 – Don’t confuse independent advise with biased help / opinion;

8 – Always, always view the property and remain in control of the pace of the negotiations;

9 – Look at the local area and facilities (Take a long term view), you will sell the property again;

10 – Only pay what you think it’s worth using the survey and comparable’s as guides.

11 – Get quotes for your work and choose for the right reasons, not just to save a few pounds.

12 – Thousands of pounds are regularly thrown away by buyers not getting good advice. (don’t be one)

How To Sell Property

How To Sell Property

Practical Guides

Some similar to above.

1 – Get your timing right. When to market to avoid strong competition.

2 – Keep things friendly BUT play hard ball through your lawyer.

3 – Don’t highlight any negatives to your property, it’s a buyer beware market.

4 – Avoid being extreme and sell the emotional and practical benefits

5 – Address the purchaser’s barriers to buying, address them directly – never duck away.

6 – If you are keen and in a rush you will get less money

7 – Use small talk to reinforce the above and softly seek out purchasers weaknesses.

8 – Remember your estate agent has monthly targets, never let them run the show.

9 – Manage the information flow and ALWAYS remember speak to your lawyer.

10 – There is a vast difference between selling and negotiating.

 

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