Staying Objective during Negotiations!!

purplebuzz

So how do people do it, when you have really like a house, and are trying to negotiate on price??

Any advice, so that I don't chew my figures off when waiting for the phone to ring!!

whitegra

I'm in exactly the same position, just made my second offer on a house I really like and I'm sitting staring at my phone on my desk as if it will make it ring any quicker.

I'm just trying to stay cool when speaking to the EA and resisting the temptation to jump at the counter offer to try and get the best price.

Good luck!!!

purplebuzz

Well the phone rang again, and I nearly jumped out my skin when it did.

I have to count the rings now, before I pick it up so that I don't look too eager.

My 2nd offer (which I mentioned would be the final one) hasn't been turned down but they want to see if they can still get what they want with my offer.

Therefore, now I have to wait. The agent hopes to come back to me by Friday!!

How do I cope until then!!

Good Luck to you too

lemonslap

This is how I dealt with this, I viewed the property with the vendor at the end I asked are you willing to sit down and talk a deal through he said yes and it was done there and then, no waiting around and messing about. (just my 2p worth)

StuTheDon

To answer your initial question you need to sit down before you start negotiating and work out:

* The price you would love to pay (i.e. the lowest)
* The absolute maximum you would be willing to pay

You then have your deal zone and this, in itself, should give you confidence.

This is all a game of bluff - you need to offer the vendor some non-financial incentives too to make you "love to pay" price seem more appealing. Specifically you would want to consider flexible move in dates, no chain, mortgage acceptance etc etc.

Then just go for it - and dont be afraid to walk away.

Alternatively you could be nasty and put a price on the table and tell them that it will reduce by 1% each day as you are on a tight timescale :T

purplebuzz

StuTheDon wrote: »

Then just go for it - and dont be afraid to walk away.

This is the problem, the walk away part. However, we did do all your other suggestions.

We have a maximum price which we are willing to pay for this house and this is 4k above what I have said our final offer is (and what it will be, because we won't increase it anymore - I suppose this will be walking away as such!!)

Anyway, it's a waiting game now!

Anew

Write down what you want to ask, be clear and succinct in your questions and statements, don't be afraid to pause for long periods to think or tell them you will call them back. I often panic on the phone - I hate it, but these techniques are one's I have employed in my work and they helped me not panic when dealing with EA.

ILW

Have you really set your heart on this particular place.
If it was me I not lose it for the sake of 4k.
Never seen the point where people negotiate about £1k of a £500k property. Lifes too short. If you want and can afford it buy it.

benood

The way to get the best deal is to not get emotional about the house - think about it's shortcomings and keep looking at other places, remember the saying: every call made by you is £10k on the price and vice versa for the estate agent!

Good luck.

Oh and yes - don't fill silences with your chatter let the agent feel the akward pause