Negotiating Tips for Your Next Home
It does not matter if you are buying a home, leasing a car, accepting a job offer, or requesting a raise: being able to negotiate is crucial if you want a favorable outcome. Although these four major life events are quite different there are certain negotiating techniques that will help you come out ahead in any situation. Below are Core Capital Group’s negotiating tips to help put you in the best decision before making your next purchase.
- Do Your Homework – If you are buying a house you need to know the market and explore comps. Negotiating a new vehicle? Know what the invoice is and find out about any available incentives. Always be educated on the subject you are negotiating.
- Don’t Feel Guilty – Don’t feel bad about asking for that raise or requesting a better compensation package from a potential new employer. Asking for what you want should never make you feel guilty.
- Don’t Be Rushed – There is no hurry. Taking an extra five minutes (or five hours) is not going to change anything. If you are in a rush, you will be more likely to cave and leave money on the table.
- Fuel Up – If you will be negotiating in person make sure you eat ahead of time and have water to stay hydrated. If your stomach starts growling or you get a headache because you are thirsty, you won’t be on your game.
- Listen – Many negotiations are won because one person was a better listener. Be quiet. Wait for the other person to speak.
- Give and Get – Don’t give on your end without getting on the other end. When you give in a negotiating situation without requiring that the other party reciprocate, they are likely to feel entitled to whatever you are offering. They probably won’t be satisfied either without asking for more.
- Don’t Take it Personally – If a seller turns down your offer on their house or your new car salesperson tells you they just can’t go any lower, do not get discouraged. Remember that it is not personal. It is just as much a business transaction for them as it is for you. They are not saying “no” to you. They are simply turning down your request.
Although negotiating situations can be incredibly diverse, the negotiating tips used in all of the above scenarios are quite similar. Remember: never start negotiations on a topic or situation you don’t have a good understanding about.