Real Estate Negotiation: 2 Profit Destroying Myths Debunked
Posted by ericmedem | Posted in Wholesaling Real Estate | Posted on -05-2008
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One of the most overlooked aspects of skyrocketing your profits when you buy or sell a piece of real estate is hard-hitting negotiation. Your TV is overrun with the latest “Fix your house” television shows. Don’t get me wrong, fixing your home does have its place, but high-powered negotiation strategies will ad thousands of profits, without you ever lifting a finger.
In this article I am going am going to debunk two of the most costly myths about real estate negotiating. Just knowing a few of my easy tips about negotiating can easily add 1-5% of your homes sales price to your profit. That means on a $100,000 home, using a few simple tips can make you between $1,000-$5,000.
- Myth #1 Create a win-win negotiation whenever possible- Can we get real a minute? If someone else wins, then you lose, it is as simple as that. In completing over 130 real estate transactions my goal has never been to create a win-win situation. Instead, my goal is always to create a situation where I win and the other person “Thinks” they have won.
- Myth #2 Negotiation starts after offer is written- If you want to lose at least $1,000 on your next real estate transaction, then wait until after an offer is written to lay out your negotiation plan. Masterful negotiation starts the moment you make contact with a buyer or seller. Seeds of negotiation strategy planted early in the process, grow into trees of profit down the road.
Using just a couple of these fool proof negotiation strategies will make your next real estate negotiation seem like showing up to a knife fight using an M-60.
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To purchase Eric’s Real Estate Negotiation System visit www.NegotiationNemesis.com
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