6 strategies to Negotiate as a professional in Real Estate
Whether you’re hoping to improve your rent or get a better deal when buying a house, if you move your chips well, you can negotiate like a Real Estate professional.
As a tenant or buyer, you may feel as if the owners or sellers have the upper hand. The truth is that you have much more power than you think, if you know how to use it.
Negotiate like a professional with these six tips:
Offers to sign a long-term lease
Have you found the apartment of your dreams and your dreams are threatened by the value of the lease? Do not get discouraged so fast, there may be a solution.
There is something that owners fear more than anything else and that is having their property without tenants (an empty apartment is the same as an empty bank account); If you offer to sign a lease to two or more years instead of the 12-month standard, it usually allows you to negotiate the monthly rental value and lower it to a more reasonable value for you.
The quick release is your best friend
Although to buy a house or apartment you may not have the means to make a cash offer, keep in mind that time is money, if you can reduce the time between accepting the offer and closing the sale, your best and best Low supply can become much more attractive to the buyer.
This is much better if the seller has just bought a new property or is changing to a new job or changing city. Make sure the bank can give you a loan quickly and then offer a short closing period to improve the business in your favor.
Leave the contract renewal for the end
If you start the rental renewal negotiation with the owner six months before the lease ends, you may be suspected of trying to break the lease and the negotiations may fall. But if you wait until the last moment to negotiate rent, it is very likely to win something and also the owner
For example, making repairs for new demonstrations to future parties interested in renting the house or apartment, drafting a new lease, registration in notaries, among other things, are the expenses any landlord would prefer to avoid.
Pay now, save later
Maybe your rented apartment is very good, but it is more than likely that you need repairs. As the end of the rental agreement approaches, it is best to have confidence with the owner of the property to tell him about the deficiencies of your apartment, so that you can then offer to do the repairs yourself in exchange for a reduction in the value of the apartment rent or at least to remain the same without increases.
You may spend a few hundred dollars, but all that money will be well spent and eventually come back to you.
Do not worry so much about a little increase
It can be very difficult as a buyer to offer the owner of the property an extra $5,000 to close the deal, but if you ask your credit officer or mortgage broker, you may be surprised at the little difference in increase in monthly costs of the long-term mortgage.
Prepare your budget with a series of different scenarios above what you think you are willing to invest. If you find that the house for sale is the real house of your dreams and is a little over budget, you will know exactly what you should do.
Don’t hesitate and ask for gifts
The owner of an apartment for sale on the third floor, for example, may not want to spend a lot of money renting a crane to move his big furniture or just thinking about the work of making the move causes him a headache.
Another case is the retirees who move from a house with a large patio to a small apartment with zero outdoor space. They probably have little interest in their patio furniture and do not know what to do with them.
Once your purchase offer has been accepted and the closing process is moving, talk to your agent or real estate broker to negotiate the furniture or accessories of your dream home. There is really nothing wrong with asking, in most cases, a salesperson is not going to cancel the business for the patio furniture.