Smart negotiation tactics buyer’s agents use

Buying a property can be a highly emotional decision for you, but it is first and foremost a business transaction. You need to know smart real estate negotiation tactics to get the right property at the best price.

Hiring a buyer’s agent can help, as they know how to deal with real estate agents on your behalf. We have put together this guide to buyer agent negotiation techniques. You’ll learn why buyer’s agents are better placed to find you the perfect property than if you do it alone.

Negotiation tactics buyer’s agents use to get the deal done

1. Negotiate without emotion

When you’re looking for a new home, it’s very easy to get overly excited about an individual home. This can lead to irrational decisions, causing you to pay more for a property due to emotional attachment.

To a buyer’s agent, buying a property on your behalf is simply doing business. They will negotiate without emotion and get you the right price.

2. Know how much the property is worth

A buyer’s agent thoroughly knows the property market in the areas where you are looking for a home. They also understand all the benefits and drawbacks of the neighbourhood. Their in-depth understanding of local home values allows them to negotiate better prices than less experienced buyers.

3. Understand what the buyer wants from the purchase

A buyer’s agent will take the time to understand exactly what you are looking for in a property. They will ask about your preferred areas, price range, property type, number of bedrooms, and other details. Using their local knowledge and contacts, they can perform a targeted search much faster than you could.

Additionally, buyer’s agents know how to negotiate house prices, understanding where there is room to get you a better deal.

4. Establish good relationships with the real estate agent or seller

One of the main advantages of using a buyer’s agent is the number of contacts they have within the local real estate industry. Their database includes many of the real estate agents in the area, as well as plenty of sellers. This means they can find opportunities that buyers like yourself might not be aware of, such as off-market sales.

In addition, they can formulate a successful real estate counter-offer strategy for buyers in cases where the property already has an offer on it but the vendors are willing to consider alternative proposals.

Buyer’s agents know they can sometimes continue to negotiate the price even after signing the contract. For example, they might be able to gain you a significant reduction based on structural and pest reports, even after contracts have been exchanged.

5. Devise a presentation that appears exact

One of the main problems for home buyers is that they do not know how to deal with real estate agents when buying. You might come across as vague in your negotiations, suggesting that you like the property but you’re not sure, or you’re too aggressive in your negotiating tactics – which can discourage the seller.

A buyer’s agent will put together a presentation that is precise, stating exactly why the property is worth the amount offered. They know what offers are likely to be accepted and will secure the property at the best price using their market knowledge.

Find out more about negotiating tactics for home buyers

Buying a house can be a difficult process, but it will go a lot more smoothly if you know the best negotiation tactics and have the right people on your side. If you would like more information about real estate negotiation tactics, as well as how a buyer’s agent can make things easier for you, please reach out and we will be happy to help.