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10 Tips to Negotiating Residential Real Estate Transactions

Through the years I have met lots of folks who want to negotiate the sale of a house. Not too many years ago negotiating was "How much over asking price will you give them?" That is one style. Well probably the hardest one to negotiate is the "I MUST WIN" person. There are at least two other types of negotiators: The LOW BALL and the Sharp Elbow. LOW BALL is self explanatory and are often MUST WIN. The sharp elbow is like this: "That is close enough honey! TAKE IT!"

So my best tips:

1. Always counter an offer, unless it matches your needs.

2. Always be ready to continue the negotiations, even up until closing. Inspection is just another level.

3. Listen to the way the other guy breathes.

4. How do they present their offer?

5. Make sure the terms are quick enough but not to put the lending in question.

6. If they want the refrigerator, plan on buying a new one.

7. As best you can, let the other guy win, but...

8. ...Stay in control by asking more questions.

9. Keep the main thing the main thing.

10. Hire a good broker and negotiator

Pete Doty, Broker Owner

Pete Doty & CO, Metro Brokers

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