A real estate transaction is a transaction with two parties who have completely opposite objectives: a seller who wants to get the most money possible for his property and a buyer who wants to pay the least amount possible. How do these two parties find common ground?
Most of the time, thanks to the negotiation skills of a real estate broker. Indeed, the negotiation leading to the purchase or sale of a property is a tense and stressful process because large sums of money are at stake. This is why the help of a real estate broker is reassuring, because negotiation is an integral part of his work.
Here are the three foundations on which he acts:
Knowledge of the market
Equipped with state-of-the-art tools, the real estate broker has an excellent knowledge of the market in your sector. He is therefore able to assess the fair value of a property. If the selling price of your property is not in line with the market price, he will be able to provide you with precise examples of recent and comparable transactions to support his statements. This access to the history of sold properties is one of the main advantages offered by the broker. He also knows the possible margin when it comes to negotiating between the "floor price" and the "ceiling price" of the property. He can identify them according to the particularities of each property.
Since he is not buying for himself, he is emotionally detached from the transaction. For example, you may not like the paint in the living room, but telling the seller could irritate him to the point of ruining the transaction. The broker will be able to find the right words and, above all, propose solutions to both parties to conclude the sale.
When the parties cannot agree on the price of a property, it is sometimes necessary to have a lot of experience in order to complete the transaction. This is where the broker's creativity and expertise come into play. He can propose many solutions, such as postponing the date of entry, leaving some furniture, doing some work, etc.
The real estate broker's experience in negotiation then takes on its full meaning. As you can see, a well-executed negotiation often makes the difference between a failed transaction and a successful one. Don't make the mistake of not using the broker's expertise to negotiate the purchase or sale of your next property.