Negotiation, the part where we think we are different.
In this article we talk about negotiation, its an art in its own right, if the person negotiating for you is good they will put extra money in your pocket, if they are average they will cost you money and if they are bad they may cost you the sale.
At this delicate stage, things can easily go wrong.
Negotiation is at its best when you have all the information required to deliver a successful outcome. Because we have invested time and money in technology and people we are able to fully see the position of the people that have made the offer. In the list below are the main things we will need to know to be in the strongest position to negotiate on your behalf.
- What is their financial position?
- Are they in a chain
- What are their motivations for buying
- How quickly are they looking to complete
At this stage, we should have a clear picture of all of the above and be able to use this information to create the best outcome for the seller, because we have taken charge of the whole process on behalf of the seller we will have picked up snippets of information along the way that become useful to us, maybe at viewing stage the viewer said that they really wanted to get their children into a particular school, whilst they may think this is something pretty standard to say it tells us that their "need" is not just the property but the school and we can demonstrate the value of paying a little bit more to secure the property is worth more to them than anybody else. Of course, if we have competing offers then this negotiation process goes on with each person that has made offers until we get you the best buyer.
Our experience tells us that rushing this part of the process will cost you money and it's usually because the selling agent has had no training around negotiation and can't control these conversations. Good negotiators will not only get you the best price but will also get you the best-positioned buyer and an average to poor negotiator will cost you money or the sale.
Having accurate data at this point is key and that can only be done by a mix of things, technology, good old-fashioned phone calls, and the biggest one of all....listening to your needs, something we here at Oakfield work continually hard on.