Cashiers and Highlands contain some of the most distinguishing developments and neighborhoods in all of western North Carolina and it's advantageous to work with an agent that knows all of the nooks and crannies where these developments exist. As a long-time Buyers Agent, below are some helpful insights I've learned to use while acquiring property from a developer in the Cashiers- Highlands area.
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| The "Outpost" at Chinquapin, Cashiers NC |
1. Prepare for the negotiation. Be clear
what you want before you enter into it. If you a purchasing a property,
you should have done a huge amount of due diligence and know the price you want
to pay as a result. Have your reasons for this standing by and stick to
them.
2. Be sensitive to timing. In every
negotiation, there are times when you can push forwards and times when you have
to be patient. Understand this and act accordingly. For instance,
developers have their “end of year” when they may need to make some quick sales
to reach their sales targets. You are more likely to get a deal if you
approach them at these times. Similarly, if a house has only been on the
market for one week, the vendor is unlikely to offer you a deep discount!
3. Don’t mention a price first. Let
the other person come up with their offer. Many times, I have found that
the person was willing to offer a greater discount than I had in mind. If
I had mentioned the price first, I would never have known!
4. Encourage the other side to talk first … and be
a good listener. Throughout the course of the conversation, the other
party may well reveal things that help your position. Ask questions and
listen carefully to the answers. They may reveal a lot.
5. Use the “7 magic words” … “Is that the best you
can do?”. This is a non-confrontational way of asking them to “help”
you towards a better deal. Say it with a smile and then let them think
about it.
6. Know your bottom line/highest offer in advance.
Explain clearly why this is your offer. . Put the offer on the table
and give them space to think about it.
7. Offer and expect commitment. The
glue that keeps deals from unraveling is an unshakable commitment to deliver.
You should offer this comfort level to others. Likewise, avoid deals where the
other side does not demonstrate commitment.
8. Trade concessions – don’t give them away.
Never give away a concession without getting something in return (buyers tend
to resist giving any concessions at all). This is a matter of discipline
and control. It’s simple. Never give anything away without getting something in
return. If you do you are not negotiating you are simply conceding.
A commitment from the other person can be a suitable concession
to get in return for something of relatively low value. The simplest and most
elegant concession to secure is agreement to proceed with the deal now – use it
to close.
9. Leave your ego at home. I try and
build rapport with someone first, before even starting the negotiation.
Some buyer’s think that being a buyer gives them some sense of superiority and
that the seller should kow-tow to them. I don’t describe myself as a
“property investor”. Develop the talent to end the
negotiation with the other side thinking that it was all their idea! Let
them take credit for it, and thank them for it.
10. Put everything in writing and leave the door
open. Not every negotiation comes to fruition on the day.
Always put your offer into writing with your reasons for the offer being at
this level. As a Buyer, you are not in a chain, you can complete quickly
etc. These are all sweeteners to someone giving you the deal.
Your offer may not suit them at the time, but that could change further down
the line. I once had a developer come back to me six months later to
agree on a deal I had put forward. The developer said “I came back to you
because you were the only person who put the offer in writing and I kept it on
my desk. When I was able to finally give the deal you wanted, I was able
to contact you immediately and let you know”.
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