When shopping for Boston North Shore real estate, being a good negotiator is an important part of the process. Home prices are never set in stone. A buyer who knows how to be a good negotiator may be able to get a much better real estate deal on the same home. In contrast, a buyer who makes negotiation mistakes may end up losing the home they want or paying more than they should have to get it.
Understanding the Local Market
A strong understanding of the local market is critical for getting the best real estate deal possible. This is where an exclusive buyer’s agent can really help. He or she will have the understanding of the local market that is needed to drive the negotiation. Balance is important, and knowing when to stop negotiating because the deal is as good as it’s going to get is just as crucial as knowing when to push negotiations further. This cannot be done without an excellent understanding of the local market and the supply and demand for a particular neighborhood.
The Mortgage Preapproval
In all negotiations, it pays to come prepared. This is especially true in real estate deals. Many sellers will not negotiate at all with a buyer who does not have pre-approval for a home loan. Even if a seller is willing to talk, the buyer has considerably less leverage when they don’t even have a good understanding of what they can afford. Keep in mind that the pre-approval process can take several months.
Another trick to this is having flexible pre-approval paperwork. The buyer shouldn’t be revealing the maximum amount they can afford, and they should be able to adjust what their pre-approval says based on the asking price of the various homes they are looking at. For this reason, it’s best to have several homes in mind and then get separate pre-approval forms for each one.
The real estate market is complex and changes quickly. If a buyer comes into the situation with the knowledge they need to be a strong negotiator, then they can secure themselves the best real estate deal regardless of the market. This can be achieved easier by using the services of Boston North Shore Real Estate. Our agents ONLY work for the buyer 100% of the time, so you’re assured of getting the best home, at the best price, and with the best possible financing. Call us today for a free, no-obligation consultation. 1-978-219-4928, and remember, we also post tips daily on Facebook and Twitter. Check us out there, too.