Loreena really hit the nail on the head with this post. Sometimes it's hard to see the forest through the trees but it's important to keep your goal in mind when negotiating.
A couple thousand dollars are not going to affect your monthly mortgage payment by much AT ALL! Negligible!
For the sake of Negotiating..... Lessons of Feet Dragging - yes, even in a Buyer's Market.
So, I've experienced the Lessons of Feet Dragging, Negotiating and Dragging just for the sake of Negotiating. It is not fun to witness buyers wanting to haggle just for the sake of haggling.
In the end, when the counter offer is not accepted and a new offer is introduced into the picture, it would be very disappointing when you lose the house, the house you've been talking about and the house you've been spending your time visualizing in.
So many times I wonder why buyers cant be serious? What could $2,000 mean in a $200K transaction or better yet, $2000 in a $500K transaction? Is it worth haggling?
ABSOLUTELY NOT! After evaluating the pros and cons of going back to the sellers for a tiny pricehaggle, in the grand scheme of things, it will not make a small pinch in the monthly payment,
WHY OH WHY DO YOU RISK ANOTHER OFFER COMING INTO THE PICTURE?
Do you know until it's signed and executed, you - the buyer is still vulnerable and that you have not secured anything yet.
And agents, don't come back to tell me how your clients will now pay the price they originally agreed on. It may be too late. The seller may have signed and executed the other offer. The seller may be upset about the haggle, the seller wants to deal with the other non-haggling buyer.
I've personally experienced 2 back-to-back negotiations where buyers lost because of Negotiation for the sake of Haggling.
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For the Sake of Negotiating... Oh How Much Fun It Is to Ride
Kristin Moran
Specializing in San Antonio & surrounding cities
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RE/MAX Access - Realtor®/Owner
KristinMoran@Remax.net 210.313.7397 www.SistersThatSell.com
Buy a home from me, use the truck to move for free!
Hi Kristin, I saw Loreena's post the other day, but didn't get the chance to comment. For every $1000 in price the monthly payment is only about $6 per month. So, when I have a buyer who is financing a loan, and the difference between what the seller is asking, and what the buyer wants is only 2,000 or 3,000,
I ask my buyer is that $12 or $18 dollars a month really to much for you to afford? They never think of it that way. Buyers are only thinking about getting it closer to their price. No one loves to haggle, and sellers are always free to do business with someone else.
Hi Kristin - Thanks for reblogging this message. Something that we need to get the word out for more buyers to know. Dont lose sight of winning the war.