This post is a great reminder for homebuyers, sellers, and real estate agents to try to maintain a clear perspective during negotiations. Otherwise, you might "poison the deal!"
Don't Poison The Deal!
Most typical real estate contracts have four parties to the deal: the sellers & their agent, and the buyers and their agent. Now for the purposes of this post, we're not talking about the loan officer involved in the preapproval, the parents of the buyers or anyone else that may be involved before or after, but strictly the PRIMARY people involved in the negotiation of the contract.
Now any single party in this group can poison the entire process.
The buyer who insists on a 60% of asking price offer may offend the seller to the point of no return.
The sellers who don't seem to want to negotiate even though recent sales show they're overpriced.
And of course either agent can easily wreck a deal with a few well placed words of "advice", or the lack of advice at the right time. Would you care for a match to go with that gasoline sir?
It's all self-defeating behavior and defeats the primary objective of exchanging ownership of a piece of property at a price both sides can agree too. Simple concept, often difficult to execute.
And it's often not easy for everyone to keep the selector switch on "RESPONSIBLE ADULT". It's high pressure, big money, tense, and often can bring out the worst in people. But here's the thing, as professional negotiators on your behalf, we can't let what we'd LIKE to tell someone get in the way of what we SHOULD tell someone.
Because here's the thing that we see time and again. The low offer buyer may come up a LOT more than first thought if they don't get jerked around. And it may not be on this round of negotiations, but does it have to be? We've had buyers come to our listings with offers THREE different times before getting the job done. Now if we flipped them the proverbial you're number 1 salute, do you think they'd be back??
And the reverse can be true too. Maybe the seller isn't ready for that offer YET, but after a couple more months of stagnating on the market and getting a couple of other offers at about the same price point they may FINALLY realize that offer wasn't so bad after all. Maybe now they'll be ready. But if your last conversation was questioning their parental heritage, they may never be ready for YOUR offer!
And as agents we HAVE to put aside our personal feelings about the issues at hand AND about the other agent. That agent may be one of the biggest jerks we've ever encountered in the world, but for the sake of our clients we've got to put that aside. That's what we get hired to do. Clean the other side's clock at the negotiating table while still holding the deal in place. Now THAT is the best feeling! We can be both civil AND aggressive in protecting our clients' interests.
And if you think being antagonistic is the ONLY way to negotiate, then maybe you're following the wrong guru. Don't poison the well for today or the future! Somebody may want to come back later and have a drink. Just remember, the buyer or seller you "killed" can't sign the paperwork later, so who's the winner again?
Serving Warren County's residential real estate needs,
Liz and Bill aka BLiz
The Liz Spear Team
Elizabeth & William Spear
RE/MAX Elite: Ask for us by name if you visit the office!
Two locations: Lebanon & Mason, OH
Office direct: 513-248-3660 Liz direct: 513-265-3004
Bill direct: 513-520-5305 Fax: 866-302-8418
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