You’ve found the house of your dreams and now you’re madly in love and just got to have it.
Or perhaps you’re selling your home and an offer comes in so ridiculously low that you’re not only angry but insulted.
Here’s a piece of advice that may be difficult to follow: Don’t let your emotions get the best of you. Easier said than done, right? When we are talking about negotiating a deal on the biggest purchase or sale of your life, keeping your emotions in check can be nearly impossible. And that’s one big reason why the world still needs professional realtors. Their experience in the arena of negotiations is tested just about every day.
Look at a real estate agent as the punching bag that takes all the blows when negotiating on a property. As the buyer, let’s say you you’ve found the layout and location of your dreams but you have nothing but contempt for the way the home is decorated. Your agent is the best person to deliver that message and hopefully negotiate you a price reduction. He or she will do so as diplomatically as they’ve done many times before.
Left up to you and the seller, there is plenty of room for negotiations to run afoul. Imagine trying to negotiate a price cut on someone’s home because you hate the paint colour and 1970’s décor. How do you argue your point tactfully and forcefully without insulting their taste? How do you tell them their sense of style stinks?
While some argue that direct negotiations between buyer and seller are best without the guidance of a realtor, there are simply far too many things that can go wrong especially when emotions are at play.
We’ve all agreed, then, that emotions can put you in a veritable roller coaster of ups, downs and in-betweens. And while life would probably not be worth living without them, it’s important to learn to keep your emotions in check while buying and selling a house. Here’s how:
Glom on early – Be aware of your feelings and thoughts before they get away from you. Don’t let your emotions overwhelm you so that you do and say things you’ll regret or more importantly that will sour the deal.
Bring on the sunshine – If you go into talks feeling low or negative this will likely colour the mood. Getting the other party to concede when you’ve said something negative or offensive can be especially difficult. Being positive generates more honey. It’s a simple fact of life.
As the boy scouts say, be prepared – This helps you focus. Try to zero in on what stresses you out and come up with a plan to avoid feeling that way.
Be honest – When you lie or fudge things your world becomes complicated and fuzzy, making negotiations more difficult and stressful. That’s something no one needs.
Distance Yourself – Try to picture your role in the negotiations as a third party might. So pretend you’re looking at yourself instead of getting swept away in the moment. This allows you to be more objective and clear headed in your negotiations and that’s always a good thing.