When a seller lists a home for a certain price, he/she doubtfully expects someone to buy without trying to negotiate a lower price. The buyer may even try to negotiate covering closing costs and taxes. Smart buyers do understand they can negotiate quite a few things to their benefit. Smart real estate negotiations do need to be thoughtful and considerate. Novices -- and those who should know better -- could make some very bad negotiating mistakes, mistakes capable of ruining a deal.


Five major negotiating mistakes really do stand out. They should be bitterly avoided.


1.) Do not make a ridiculously low offer.


If a home is listed at $125,000, making an offer of $70,000 for no real reason other than to see if the seller goes for it is a waste of time. Why would anyone drop $55,000 off the price of a home that is in good shape and does not require renovations? The seller probably wouldn't even entertain phone calls from a buyer or seller ever again after making such a miniscule bid.


2.) Avoid going outside the scope of the home sale.


Sellers may try to unload furniture or other belongings as part of the home sale. Entertaining such discussions does little more than muddy the waters of the primary deal. The goal here is to purchase a home -- not the home and its contents. Good negotiating requires focus. Veering away from the sale of the home undermines focus.


3.) Do not allow yourself to become emotionally attached to the property.


A would-be buyer who discovers a "dream home" might become overwhelmed with the desire to purchase the property at all costs. The eventual cost the buyer pays, frequently, is more than what he/she should have. An emotional attachment to a property leads to negotiating from a position of weakness.


Yes, everyone gets overwhelmed upon coming across a home that seems to be the absolute perfect one. Real life real estate transactions are not romantic storybook tales. Attempting to negotiate from an emotional perspective is akin to negotiating from weakness. Doing so hurts the cause.


4.) Never try to force quick negotiations.


Trying to rush someone through negotiations really isn't negotiating. Rushing comes off a lot like pressuring. Pressure probably won't work well. The other party likely will react negatively and decline to do any business. Allow the right amount of time to play out while negotiating.


5.) Never fail to be professional.


While the buyer and seller are both "private citizens" and not real estate agents, this does not mean they should act in a manner deemed unprofessional and lacking in courtesy. The seller -- or buyer -- always has the option of declining to do business with someone. People who lack professionalism and rub others the wrong way may think they are running the show, but they quickly find the show canceled. In other words, the sale ends up being called off due to issues with the buyer's attitude.


Negotiating remains an art form. Experience plays a role in negotiating. Those with limited experience should continue learning and researching negotiation skills in order to improve their abilities.

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