Unless the market is red-hot, every real estate sales negotiation involves give-and-take, with the buyer and the seller offering input into the process. But whether you're the seller or the buyer, there is one phrase that can put thousands of dollars in your pocket, or at the very least will make sure that you always get something back for every concession you make. That phrase is, "If do that for you, what will you do for me in return?" It's that simple, but it's a powerful tool in getting more during the negotiation process. It doesn't just work in real estate negotiation, by the way. It will work in any situation that requires a negotiated contract between two parties. But our focus here is on real estate transactions. For instance, if you're selling a home and the buyers ask for help with the closing costs, you ask, "If I do that for you, what will you do for me in return?" Saying that phrase will immediately put the buyers in the position of having to think of something they can do to reciprocate your concession. They may offer to try to close the loan faster, offer a higher price for the property, or something along those lines, but there are an infinite number of possibilities. After you've uttered your magic phrase, all you have to do is sit back and wait to see what they come up with. Their response may surprise you in its generosity, and may be far more generous than you might have come up with on your own. Adding the magic phrase works on a number of levels. It lets the buyers know that you aren't adverse to their suggestion, IF they come up with something suitably generous in return. You haven't said you WILL do as they have requested, which implies that if they can offer something equally beneficial to you, you're likely to accept their terms. It shows an openness that isn't generally displayed within the usual offer/counteroffer scenario that goes on in most negotiation situations. So when you enter into negotiations for the sale of your home, remember the magic phrase, "If I do that for you, what will you do for me?" The results may be very pleasant, and very profitable. In fact, just uttering that magic phrase can potentially put thousands of dollars into your pocket--without having to become a tough, no-nonsense real estate negotiator. Copyright Jeanette J. Fisher |
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