Boston real estate for sale: Tips on how to negotiate. Buying and selling downtown Boston real estate is rarely a straightforward process. For instance, a Back Bay condo may sit on the market for weeks but moves quickly and sells for more than asking price after some home renovations. Alternatively, interested buyers may keep asking sellers to drop the price, or there are prolonged negotiations that result in no sale. The Boston real estate agents for buyers and sellers use tips and tricks to help negotiations go smoothly and to serve their clients’ best interests.
Buyers’ agents are tasked with ensuring their clients get a fair price and that they know exactly what they are getting in for. They use tactics such as:
- Fishing for information from the listing agent (ex: Are there other serious possible offers? Has the seller already rejected other offers? How’s the interest? Can the closing be quick? What is the lowest absolute the seller is willing to accept?)
- Assessing the information gleaned to see what is 100 percent accurate and what may be exaggerated
- Using the data to start negotiations from a productive point
Listing agents want sellers to get a price that feels fair to them and that will still seem fair in retrospect. They also want to move the Back Bay condo as quickly as possible. They do this by:
- Creating a sense of urgency (ex: telling the buyers’ agent that a family is coming to see the Back Bay condominium for the second time tomorrow and may make an offer then)
- Finding out just how high the buyer is willing to go/is financially capable of going
- Offering counter options in lieu of dropping the Back Bay condo price (ex: paying for closing costs, paying for a new roof, paying for a warranty or title insurance)
Both agents should:
- Create rapport with each other so they are more willing to disclose details and work collaboratively
- Do only the opening and closing offers and two offers in between—more than four often leads to unsuccessful and prolonged talks
Today’s Boston condos for sale
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