The negotiation process of real estate can be a very turbulent ride. It is an emotional process when it comes to money, and sometimes it can get very heated.
While it seems trivial to have a REALTOR® proxy the negotiation, it is very important in getting a deal. A REALTOR® is able to filter out tactics designed to evoke an emotional response, such as "The place needs renos," or "Not sure if it’s really worth the money," and present you with just the bare facts.
Without a REALTOR®, sometimes being put on the spot can really throw you off. How would you respond if asked: "There is water damage, why would you hide this? I want $10,000 off or I won't waive my conditions."
Your possible reactions:
- "You're crazy. I'm not paying anything!"
- "I thought we had a deal?"
This conversation can go south really quick, but a REALTOR® can address issues like this without jeopardizing the transaction: "My client probably wasn't aware, let me bring this back to them and we can figure out a workable arrangement."
Now we've bought time to decide what we'd like to do, we can respond accordingly:
- Call their bluff. Seek out some interested parties and respond with "At this time, we have other interested parties and will not be providing any concessions."
- Split the cost. Respond with "My client has sought out some quotes and found a reasonable one at $X. We're willing to split this cost in trade for waiver of this clause."
- Fix the issue. Respond with "My client acknowledges the issue and will repair this prior to closing."
A good REALTOR® will give crafted and thought out responses that will provide a clear stance, and help move the transaction through without the need for emotional interference.