Real Estate is a Game: Keep Your Poker Face On

To All Buyers and Sellers Out There Wanting to Negotiate for Their Best Interests:

Negotiating From Whichever Side You Are on Really Needs to be Approached in the Same Way. If You Have Ever Played Poker, Well Then this Metaphor Will Really Speak to You....Don't Show Your Cards!

______________________________________________________________________________________

Number ONE:

DO NOT show you cards (aka: motivations): This is probably the number one problem with doing FSBO. The buyer asks point blank, "why are you moving?" and the seller usually answers. No, no, no, you do not show your cards like that when you are playing a game. Motivation determines everything in real estate because time is money. As soon as the buyer or seller catches a whiff of your time-frame OR need to move, well the jig is up. That information can be manipulated for the other party to exploit the position of their counterpart.

Number TWO:

Be objective and do not show urgency: Even if you are in love with a house OR you are in desperate need to sell it, let them know that there are still buyers and sellers out there who are equally capable to like the home, so if you want the best price, stay objective, know what your bottom lines are and if they are realistic, then stay relaxed about it, blase even, that you like the house/buyer BUT there are others...Get it?

(I don't care if you do a dance while your in it thanking the Gods for sending you this buyer OR for sending you this house of your dreams) when you are presenting to the buyer OR seller, it ain't that special. You like it, you want it, but if you can't get it for a fair price, you can always find another house/ person...

Caveat: If they do walk, you can always re-approach them and bring them back to the negotiating table with a new set of cards that you are willing to play : ) Play your best hand first. If it doesn't pan out, then pull out the reserves. Hey, at least you tried and will sleep better knowing you did.

Number THREE:

Let them think you are money stretched, as in 'stretched thin':

If you are the seller, well don't let them know you have oodles of equity you are just waiting to get your hands on. You have plans for every dollar, so even if aren't hard pressed for money, every dollar counts to you and let the buyer know every dollar they are asking off is a dollar less in your pocket. Don't get caught up in the negotiations of thousands... Let them know the dollars count to you.

If you are the buyer, NEVER, EVER provide a pre-approval letter that says you qualify for more than what you are offering. I know this sounds silly to some agents reading this, but yes I will bug the lender if we write five offers to make me a pre-approval for the offer we write... This is a psychological war we play. Think if you show a letter saying you can get $250k and you write an offer for $190k, see my point? This lets the seller that you are offering to, know you are a good buyer with funds at the ready, but you really can't move much on that price : )

Number FOUR:

You attract more bees with honey, so talk kindly even if you are telling them to go shove it: Working well with the agent AND client on the other side is so incredibly important. Even if at one point you walk away and tell them to go to hell...Best if done with tact, respect, and kindness so that if you do on a whim decide to come back to that person, you did not burn that bridge.

People want to work with people they like and I will work harder for an agent/ seller/ buyer if I like them. If they have been an A-hole, well I will not be doing them any favors. That is just life. We are ALL humans that want respect, love, and caring. Show that you appreciate where they are coming from...And do appreciate it...But then stick to your interests. This may actually cause a little break in their front to let you in and like you. I share personal tidbits about my clients (if they allow) and I make everything personal so the buyer/seller on the other side will understand where they are coming from. We are in a one on one business. These are people's beloved homes, appeal to their good nature. Be personal and you may get the upper-hand.

Number FIVE:

Every detail does count, so act like you care about every little thing (while keeping it all in perspective in reality): This mainly applies to all the little annoying stuff that comes along with the house purchase, the appliances, the repairs shown on the home inspection...I know some agents don't bother with this little annoying stuff, but its what deciphers a decent or even good agent from a GREAT one!

All these little things, even if my client is really okay with them, let's say taking the refrigerator even though it was in the contract, trust me, when I go to the other party, I am personally upset that they would be trying to underhand the contract, but out of the kindness of our heart, we will concede the refrigerator (if my clients really don't care about it) in exchange for something they do care about.

The details are what make me good. Fighting for my clients takes more time, energy, and care...But it makes them happy and I know I am doing my best for them and WE ALL sleep better at night. The little things count in getting the best deal overall! So stomp your foot, even if you don't care about that, act like you do and get something out of it. This is not acting even, you should care about the details and if you don't, I will do it for you as your agent. That's what you hire me for!

_____________________________________________________________________________________________________

Quite Simply: Hide Your Cards and Play Them Well and You Will Take Home the Pot and Win in This Wild World of Negotiating Real Estate!

Contact me anytime with your real estate questions or needs:

www.ColleenWoodward.com

402.571.5887

"Selling Real Estate for the Cure & with Heart"

REMAX The Producers