Negotiating Property Prices: Don’t Get Played!

It’s incredible how many people think they are “experts” in negotiating property prices, but really have absolutely no idea what they are doing.

I cringe when people go head to head with an expert negotiator and come out thinking they got a great deal.

That’s the secret of a great negotiator. They make you FEEL like you got a great deal (or at least help you justify why you overpaid)! But the truth…

Negotiating Property Prices - Why Most People Have NFI About Prices

Let’s be blunt. Most people stroll into an auction or negotiation without the faintest idea about the property’s true value (and no, a free website app is not an excuse for expert knowledge about the true value of any property). They’re armed with a bank loan, a dream, and a heart full of hope. But here’s the thing… hope won’t get you a good deal.

Negotiating Property Prices - Solution: Negotiate Like a Property Ninja

Get an independent valuation.

Go to an expert independent valuer (we can help you with that) and ask for a valuation BEFORE you make an offer.

It might surprise you, however even though we’ve been buying the same type of properties in the same locations for over 20 years, we still get an independent valuation done to ensure our clients are paying the right price (even though it makes our job 10 times harder). That’s how confident we are on our service and that’s how confident any buyer should be when they table an offer.

When you make an offer, if you are armed with an independent valuation, it’s very hard for an agent to argue price. Plus, you’ll know when to walk away because the asking price is too high.

If they are not willing to sell for the true value of the property, move on. Yes, it will have cost you a few hundred dollars, though it could end up saving tens of thousands (or even more)!

Negotiating Property Prices - The Real Estate Agent Trap

Let’s get this straight. Agents aren’t your friends here… and that’s ok!

The job of a great agent is to get the best possible price for the vendor. The higher the price, the better their commission. They know how to maximise the price a buyer will pay.

Ever felt pressured by an agent saying there’s another interested buyer? Well, that’s one way to play off your FOMO.

Has an agent made you feel incredibly comfortable with them, as if they are on your side?

The best agents genuinely want you to buy the property of your dreams… they just ensure you pay the absolute maximum you are willing to pay. Then everyone is happy, right?

Agents can smell desperation a mile off. They know how to maximise the sale. That’s how they make a living.

If you’ve walked through an open home and said to your partner…

“we’ve looked at so many places, we’re not missing out this time”

“this is perfect for us”

… or worse still, you’ve already:

allocated bedrooms
mentally moved in furniture
or even promised the kids that glorious pool in the back yard

I know some people who have disclosed to the agent the maximum amount they have available to buy and then proceeded to tell them that a property is “ideal” for them. It makes the negotiation pretty easy for the agent!

Unfortunately, some people honestly believe they are expert negotiators, though end up getting schooled by agents who’ve been in the game longer than they’ve been alive (and often they don’t even know it).

Check your ego at the door. You don’t have to be the expert at everything. You just need to know who the experts are and how they can help you.

Even if you’ve found the property of your dreams, we can help negotiate on your behalf. You can achieve an incredible result, just like some of our amazing clients like Andrew.

Let’s have a chat to discover whether a buyer’s agent can help.

We can do the entire property search for you, or we also have a negotiation only package, where we negotiate a property on your behalf.

No matter what you do though… get an independent valuation before you make an offer on any property. Please!

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