Anyone want to give me their two bobs worth of negotiating tips?
here’s the sito…… unit went to auction, got passed in at $435k (reserve was $520k) and advertised range for $465k – $510k. My verbal offer is $450k. I told the agent last week who said he had firm offers for $470k and $480k to sign them up and to forget about my offer at that price. (for me its an investment property so looking for a bargain from the outset). Called another agent in the same agency today to ask about another unit and also checked to see if this unit had sold yet.
Apparently its still on the market.
…how would you play it now?
If it's similar to the other unit you were considering at $450k then I guess that would be a logical price to have in mind.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
I would ring the agent and call him on it. Say you have been told its still on the market and find out if thats true, and if so, resubmit your offer. Real Estate agents tend to not be transparent in their dealings, so if you have been told something, there's certainly no harm in chasing it up. Your offer may be accepted.
Put it in writing with any special conditions.
Don’t be overly keen.
Remember, you are screwing the vendors not the agent. go hard.
If the agent will write it up at 450 do that.
If the agent will write it up at 450 do that.
Question: If you want to put in a written offer, can the agent say no because he’s not happy with the price? Can you not just present the written offer to the agent (he finds out your offer when he looks at it, because you’ve already told him you won’t disclose it verbally) and if he doesn’t like it, is he still not legally obligated to present it to the vendor? Regardless of his own opinion.
Hi Tiger,
Not sure what state you are in but in NSW agents are legally obliged to give vendors all offers in writting so you should definitely submit it in writting or they may not be taking you seriously. Perhaps offer flexible conditions too – for eg. long or short settlement period, whatever the vendor prefers.
If your offer is still rejected keep in mind that its the vendor saying no, not the agent. But not a bd idea to keep reminding the agent that the offer is there every week by email, as teh weeks go on the vendor might be more likely to take it if they have no other interest.
Good luck.hey check out this article about tips for negotiating – I'd also recommend the book Getting to Yes
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