Why Experience Counts When Negotiating a Purchase Price

Why Experience Counts When Negotiating a Purchase Price

First Time Home Buyers Count on Professionals to Negotiate

If you’re buying a home for the first time, it can be tempting to undertake as much of the process as possible yourself.  The old adage goes “if you want a job done right, do it yourself,” and sometimes it can seem like being hands-on through every step of the process can only make things go better.  In truth, there are some things best trusted to the experts, and purchase price negotiation is one of those things.

There is much truth in the idea that some abstract skills can be hard to quantify on paper.  Marketing, design, and sales are all examples of such skills.  Negotiation is another such skill.  While skills in mathematics, construction, or engineering can be measured by tests of various types, no such tests exist for negotiation skill, yet there are clearly differences in result.

Because of the nebulous nature of measuring the results of abstract skills, it’s understandable that so many first-time buyers, who might fear to pay more than necessary, might hold too tightly onto control of the negotiating process, but this can be a costly mistake.

The real estate agent you choose matters

In all likelihood, you chose a real estate agent because they’ve had success in their field.  Whether you found them through an advertisement or through word of mouth, your agent has enough experience to have worked on multiple successful sales.  They wouldn’t have returning customers if this wasn’t the case.  Keep in mind that such success can be a metric of their ability to negotiate.

Negotiation is hard to measure because it varies so much between individual industries and deals, however, a skilled negotiator knows how to read the prevailing emotional “temperature” of a deal as it is being worked and can make strategic choices in response to changes in the situation.  After multiple experiences working real estate deals, a real estate agent is going to not only have market-specific and industry-specific knowledge, but a strong knowledge of body language, cues, and red flags that all point to when a better deal can be won.

Negotiation is, in many ways, an art.  As with any art, experience is possibly the most important factor of mastery.  An experienced negotiator can not only know when it is important to stay strong on an offer but can also know how to deliver offers in ways that are more appealing to a seller and their team.  The ability to gauge an uncertain situation and react in productive steps is possibly the greatest value brought to the table by an experienced real estate agent, outside of the simple know-how of locating promising properties in the first place.

Never underestimate the influence an experienced agent can have on you getting the best deal possible, and, once you’ve selected an agent, don’t fall into the temptation of not trusting their abilities.  A good agent will help you help them and will guide you through the necessary steps.

Work with an experienced and skilled Dallas-Fort Worth agent

If you’re looking for an experienced, knowledgeable agent in the Dallas-Fort Worth area, contact Linda Peterson today at (817) 829-3000 or by visiting her website at www.lindasellsdfw.com.