Congratulations! You've found a property you genuinely like. Now comes the part that many buyers either love or dread: negotiation.

The good news is that negotiation doesn't have to be confrontational. In fact, the most successful negotiations are often the calmest.

Understanding the Difference Between Price and Value

Every seller believes their property has value. Often, it's what I call Fantasy Pricing'.

Sometimes they're right. Sometimes they're optimistic.

And occasionally they're living in a completely different reality.

Your job is not to argue. Your job is to understand what the property is genuinely worth and what it is worth to you. Those are not always the same thing.

A house with spectacular views, privacy, a swimming pool and excellent access may justify a premium.

Likewise, a property requiring substantial renovation may need significant adjustment to the asking price.

The more information you gather, the stronger your position becomes.

Don't Fall in Love Too Quickly

This may be the most valuable negotiation advice I can give.

When viewing a property, avoid telling everyone how much you love it.

Be enthusiastic, be friendly, but maintain a degree of emotional control.

Once a seller believes you cannot live without their house, your negotiating position becomes weaker.

You don't need to pretend you dislike the property. Simply remain measured and professional.

My Role

The rest is better left to someone that knows the area, the people and has had considerable success with getting the price right.

If you need help with this:

Get in touch

Knowing When to Walk Away

Not every property is a good deal.

Sometimes a seller's expectations are unrealistic (Fantasy Pricing!). Sometimes emotions override logic. Sometimes the numbers simply don't work.

In these situations, the ability to walk away can be your greatest strength.

There will always be another property. Patience often rewards disciplined buyers.

And Sometimes...

Sometimes the property is wonderful.

The asking price is fair.

The seller is reasonable.

The location is exactly what you've been searching for.

In these situations, don't allow negotiation to become a game. If the property genuinely represents good value and fits your objectives, it may be wiser to secure it than risk losing it over a relatively small difference in price.

The purpose of negotiation is not to win. The purpose is to reach a fair agreement that works for everyone involved.

NEXT: Due Diligence →