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YOU’LL NEED A WEDGE TO HANG THAT DOOR
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  1. Home
  2. Finance

How to negotiate with a real estate agent

Get the best value out of your investment. - by Laura Barry
  • 16 Jul 2018

Buying a property seems like a straightforward process from the outside, however anyone who has purchased property can tell you there’s a whole lot more to buying your dream home or investment property than simply having the funds to do so. If you want to get the best deal on your next investment property, it’s important to have some negotiation tactics hidden up your sleeve when you’re dealing with a real estate agent, or know what qualities to look for when you hire representation.  

Get educated

In order to go into negotiations with a fighting chance, you need to know the history of the property you’re looking at, and the market conditions surrounding it. Before you put forward an offer, spend some time tracking down what the property was last purchased and sold for, investigate what other similar properties in the area have gone for and what the current market conditions are in your state or country. Ask the agent if the seller has gotten any offers yet, ans for ho much, and how much the seller paid for the property.

Understand who you are dealing with

Each person has their own reasons for putting their property on the market, and it can sometimes pay to know that reason when it comes to negotiation power. Regardless of the situation, most sellers want to get the highest price possible in the shortest amount of time. Ask the agent why the seller has listed the property for sale, and if there is scope for quick closing.

woman with glasses shaking hands with man in suit
Getty

Appearance matters

Whenever you’re negotiating, whether it’s over a property or something else, how you present yourself can have some effect on the way in which your proposals ae received. You should project confidence, but not arrogance. Stand tall, use open and friendly gestures, and make sure you’re wearing clean and tidy clothing that suggests you’re to be taken seriously. Try to make it clear you understand the real estate and property market, and how investing in it works. If you aren’t confident in this, consider getting an agent to speak on your behalf.

Be prepared

Unfortunately, you’ll never get the best deal on your property if you aren’t prepared to walk away from it. You need to make the best decision for you and your circumstances, and when it comes down to it, there will always be another property for sale.

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  • Finance
  • Better Life
Laura Barry
Laura Barry
Laura Barry is a writer, bookworm and interior design enthusiast with a love for reporting on all things homes, travel and lifestyle. When not tapping away at her keyboard, Laura can be found making endless cups of tea or perusing the shelves of Sydney’s many bookstores.

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YOU’LL NEED A WEDGE TO HANG THAT DOOR
Watch 6:32

YOU’LL NEED A WEDGE TO HANG THAT DOOR

{headline}

{headline}

The most affordable suburbs for first home buyers

The most affordable suburbs for first home buyers

The upfront costs that hit the hardest when buying a house

The upfront costs that hit the hardest when buying a house

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How to sell your house when you have a tenant in place

How to avoid capital gains tax when selling a house

How to avoid capital gains tax when selling a house

{headline}

{headline}

4 signs that a property isn’t worth buying

4 signs that a property isn’t worth buying

The BHG guide to home ownership

The BHG guide to home ownership

Why ‘property staging’ can sell your home faster

Why ‘property staging’ can sell your home faster

{headline}

{headline}

7 ways to boost your borrowing capacity and land your dream home

7 ways to boost your borrowing capacity and land your dream home

This is how much you need to earn to buy a house in Australia right now

This is how much you need to earn to buy a house in Australia right now

3 ways to pay off your home loan faster

3 ways to pay off your home loan faster

The pros and cons of renting versus buying

The pros and cons of renting versus buying

5 legal ways to reduce your capital gains tax on investment property

5 legal ways to reduce your capital gains tax on investment property

The Aussie city with the cheapest house price has been revealed

The Aussie city with the cheapest house price has been revealed

Buying an investment property

Buying an investment property

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