Real Estate Negotiation Secrets

When you bought your home, you offered less than you were willing to pay, right? That's the most common negotiation technique. For experienced investors, however, that's just one little secret among the many more powerful ones. What else can you do?

How To Make An Offer

1. Offer an odd amount, like $161,793. This gives the impression that you know something the seller doesn't. They may think you have a good reason for that particular price.

2. Play dumb. Ask questions, talk slow, ask for help, and never show off your real estate expertise. Sellers are afraid to budge if they think a smarter person may be taking advantage of them.

3. Use the "limited authority" ploy. Say "I'll have to check with my wife (or partner)." It's easier for sellers to accept that you can't do something, rather than the idea that you won't.

4. Refer to precedent. "My father bought his house this way." If the offer is at all unusual, sellers will feel more comfortable if they know it has been done that way before.

5. Ask for things you don't want. This lets the seller win concessions when negotiating. If you can say, "I guess I don't need the refrigerator, if I can get my price," you're more likely to get your price.

6. Be reluctant. "well, I don't know..." Reluctance gets the seller looking for ways to motivate you, and lets him feel like he's won something when you settle the point.

7. Make the offer their idea. "Are you saying you'd like a later closing, and more earnest money? Well let's do it your way, then. I just need..."

8. Get a yes before the offer. "What if I paid your price, but got my terms? Would that work for you?" Even with a few changes, it will be hard for the seller to say no to an offer he more or less already agreed to.

9. Flatter the seller. Flattery has been proven to be worth an average of $1962 in real estate negotiations. That's a joke, by the way, but you know if he likes you, you'll probably get a better deal.

10. Pass over problems, and return to them later. Agree on every agreeable point first. It will feel like the house is sold then, and it will be difficult for a seller to lose the deal over an issue or two that you need to go in your favor.

You can spend a lot of time looking for cheap houses. Why not spend a little time learning how to purchase every home for less, with some smart negotiation?

Steve Gillman has invested real estate for years. To learn more, and to see a photo of a beautiful house he and his wife bought for $17,500, visit http://www.HousesUnderFiftyThousand.com

MORE RESOURCES:

German officials move to save Hypo Real Estate - MarketWatch

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German Stocks Fall Most Since January; Hypo Real Estate Slumps - Bloomberg

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Real estate roundup: BPA leases Vancouver space - Bizjournals.com

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/2-0fd=Rurl=http://www.bizjournals.com/portland/stories/2008/10/06/daily2.htmlcid=1254855186ei=Ff_qSOGPPIe4zASG3rj_CAusg=AFQjCNGiDWawj2J_eKHacIXNcYObeGP0ZQbReal estate/b roundup: BPA leases Vancouver space/abrfont size=-1font color=#6f6f6fBizjournals.com,nbsp;NCnbsp;-/font nobr12 hours ago/nobr/fontbrfont size=-1New amp; Neville bReal Estate/b Services represented Cricket. •Foam Street Investments LLC purchased The Parkview Apartments, a 104-unit complex at 7808 NE 12th b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/2-1fd=Rurl=http://www.heraldtribune.com/article/20081006/ARTICLE/810060402/2058/NEWS%3FTitle%3DReal_estate_dealscid=1254855186ei=Ff_qSOGPPIe4zASG3rj_CAusg=AFQjCNGb7MVcV6RQ5WXvGNjNPm9su61FhAbReal estate/b deals/a font size=-1 color=#6f6f6fnobrSarasota Herald-Tribune/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1254855186hl=ennobrall 4 news articles/nobr/a/font/div/font/td/tr/table

Agnew Launches Translation Task Force to Help Financial, Banking ... - MarketWatch

McCombs, other Texas businessmen form new real estate venture - Bizjournals.com

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/4-0fd=Rurl=http://www.bizjournals.com/austin/stories/2008/10/06/daily13.htmlcid=1254856423ei=Ff_qSOGPPIe4zASG3rj_CAusg=AFQjCNG4Em78Vl0fPfhL5pHENT8wXl-WxgMcCombs, other Texas businessmen form new breal estate/b venture/abrfont size=-1font color=#6f6f6fBizjournals.com,nbsp;NCnbsp;-/font nobr7 hours ago/nobr/fontbrfont size=-1A group of Texas breal estate/b and business veterans are launching a new development company. Dually based in San Diego and Austin, The Flagship Group is b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/4-1fd=Rurl=http://www.marketwatch.com/news/story/development-business-veterans-announce-flagship/story.aspx%3Fguid%3D%257B5B9D77D4-BC71-48EB-868A-CC4BD86028CF%257D%26dist%3Dhpprcid=1254856423ei=Ff_qSOGPPIe4zASG3rj_CAusg=AFQjCNGoHoZ2csufBlciDy9fzvK8MsMveADevelopment and Business Veterans Announce The Flagship Group/a font size=-1 color=#6f6f6fnobrMarketWatch/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1254856423hl=ennobrall 13 news articles/nobr/a/font/div/font/td/tr/table

CB Richard Ellis Realty Trust amp; Duke acquire real estate portfolio - Bizjournals.com

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/5-0fd=Rurl=http://www.bizjournals.com/dallas/stories/2008/10/06/daily9.htmlcid=1254909784ei=Ff_qSOGPPIe4zASG3rj_CAusg=AFQjCNESaOTejx0J1JnMKoyX1daBEkjKGwCB Richard Ellis Realty Trust amp; Duke acquire breal estate/b portfolio/abrfont size=-1font color=#6f6f6fBizjournals.com,nbsp;NCnbsp;-/font nobr7 hours ago/nobr/fontbrfont size=-1As part of a joint-venture agreement, CB Richard Ellis Realty Trust and Duke Realty Corp. have acquired four fully leased properties for $139.1 million. b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/5-1fd=Rurl=http://www.insideindianabusiness.com/newsitem.asp%3FID%3D31865cid=1254909784ei=Ff_qSOGPPIe4zASG3rj_CAusg=AFQjCNFfcEFuD2p8JFvjtke_zzGDqE-7iADuke Joint Venture Acquires Four Properties/a font size=-1 color=#6f6f6fnobrInside INdiana Business (press release)/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/5-2fd=Rurl=http://www.dallasnews.com/sharedcontent/dws/bus/industries/commrealestate/stories/100708dnbusindustrial.e85d55ca.htmlcid=1254909784ei=Ff_qSOGPPIe4zASG3rj_CAusg=AFQjCNEyD3jmxbllXJjiB78q7uBmBibSiACB Richard Ellis, Duke Realty purchase 4 industrial properties/a font size=-1 color=#6f6f6fnobrDallas Morning News/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1254909784hl=ennobrall 9 news articles/nobr/a/font/div/font/td/tr/table

Real estate wrap: Rowan opens first building at technology park - Bizjournals.com

Alico Restructures Real Estate Contract, Receives $2.5 Million - MarketWatch

DWS RREEF World Real Estate amp; Tactical Strategies Fund, Inc. (DRP ... - MarketWatch

Blumberg Capital Partners Completes Two-Year Real Estate ... - International Business Times

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/9-0fd=Rurl=http://www.ibtimes.com/prnews/20081006/fl-blumberg-capital.htmcid=1254888686ei=Ff_qSOGPPIe4zASG3rj_CAusg=AFQjCNGqnZ942B45pRblJxuTs5PnBLd3xwBlumberg Capital Partners Completes Two-Year bReal Estate/b b.../b/abrfont size=-1font color=#6f6f6fInternational Business Times,nbsp;NYnbsp;-/font nobr12 hours ago/nobr/fontbrfont size=-1based investment fund manager, today announced it has completed atwo-year strategy to dispose of its major commercial breal estate/b holdingsnationally, b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/9-1fd=Rurl=http://www.bizjournals.com/tampabay/stories/2008/10/06/daily10.htmlcid=1254888686ei=Ff_qSOGPPIe4zASG3rj_CAusg=AFQjCNFy_nVswDJNzY6cUp-MkDlwYSDqmQWestshore sale marks turning point in Blumberg Capital strategy/a font size=-1 color=#6f6f6fnobrBizjournals.com/nobr/font/fontbrfont class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1254888686hl=ennobrall 10 news articles/nobr/a/font/div/font/td/tr/table

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