"The way to convince another is to state your case moderately and accurately. Then scratch your head, or shake it a little and say that it is the way it seems to you, but that of course you may be mistaken about it. This causes your listener to receive what you have to say, and as like as not turn about and try to convince you of it, since you are in doubt. But if you go at him in a tone of positiveness and arrogance, you only make an opponent of him." – Benjamin Franklin.

The changing market
The frenzied housing market of the last several years has dramatically changed the role of the buyer’s agent as negotiator. In the recent past, negotiation involved little more than the buyer’s agent crossing his or her fingers in the hope that the client’s offer price was high enough to beat out competing offers.

Sellers were essentially auctioneers who sat back and witnessed the bidding war between buyers for their home. The seller maintained every inch of leverage and selected the winning offer based on:

• Highest offer price
• Best terms
• Fewest sale contingencies.

Because the seller had the luxury of reviewing 10 or more offers in any given sale, there was little to no negotiation after an offer was submitted. Accordingly, the buyer’s agent was extremely constrained by these market conditions to perform the strategic negotiation opportunities available in today’s market.

New opportunities
With increased housing supply and rising interest rates, our agents are experiencing a sea change in a seller’s willingness to negotiate an offer. From price reductions to the inclusion of sale contingencies, sellers are now accepting a litany of concessions to compete for buyers.

As your advocate, we strive to negotiate the best terms without jeopardizing your opportunity. By gaining insight on buyer interest from the seller agent and analyzing the most current market conditions, our negotiations are structured to deliver value and accomplish your objectives.

What we do
At Navigation Real Estate, we strongly believe that everything is negotiable. However, we also understand that each negotiation must be custom-tailored to meet the buyer’s objectives in light of prevailing market conditions.

Depending on the situation, the following offer details may be negotiable:

• Price
• Sale contingencies such as home inspection, financing, and existing home sales
• Earnest money
• Down-payment
• Closing costs
• Closing date
• Appliances and other personal property
• Home repairs

How we do it
At Navigation Real Estate, we believe that successful negotiation is the product of hard work, understanding and strategic communication.

1. Hard work. Prior to submitting your offer, we perform a comprehensive analysis of current market conditions in the area where you plan to purchase. We research recent home sales in the area and compare the features and amenities of such recent sales to the home you are interested in. We also research the home and property itself by determining how long the property has been on the market and whether there have been any price reductions. By identifying the most current market conditions, we are able to determine the legitimacy of the seller’s offer price and the conditions a seller will likely accept when evaluating a potential offer.
   
   
2. Understanding. Throughout the purchase process we collaborate with you on pricing and other offer strategies that we will utilize to negotiate your home purchase once you locate a home you are interested in. By gaining a thorough understanding of your goals, your interests will be represented in an efficient and expeditious manner. Your participation and involvement in your home purchase is highly encouraged in order to assist us in formulating your negotiation strategy.
   
   
3. Strategic communication. With our market knowledge and your objectives in mind, we commence negotiations with the seller. We begin by making an informal inquiry with the seller’s agent to determine if any offers have been made and to gauge buyer interest in the property. If our initial inquiry proves favorable, we move forward with strategic advocacy until your sale objectives are achieved.

Questions
We welcome your questions on our buyer negotiation strategies. Please feel free to contact us at: (206) 909-8777 (toll free at 1-800-206-6612) or by email at: info@navigationre.com.