Phil Spencer’s guide to negotiating thousands of pounds off the price of your dream home
As Phil Spencer explains in this article, negotiation is a fine art and requires a combination of preparation, pragmatism, and psychology. This may well seem quite complicated but as a buyer, you could save thousands or even tens of thousands on your dream property, so it’s well worth the investment of your time and preparation.
Here, Phil shares a few of his top tips to help you negotiate like a pro and seal the best deal on the property you want to buy.
He begins by explaining that contrary to popular belief, negotiations start the moment you meet the estate agent. You’ve got to remember that the estate agent is not working for you, but for the seller and they will be sizing you up from that first meeting to gauge the strength of your buying position. They are trained to read you – both your body language and the conversations between you and your partner during viewings.
You’ve also got to bear in mind that the asking price is not the same as the value. So, before you decide on an offer, make sure you do your own research and learn how much similar properties in the local area sold for. That should give you a good benchmark, which you can then adjust by taking into consideration other factors like school catchment area, transport links, local crime rates and so on.
For more of Phil’s tips and tricks on negotiating like a pro, read the article in full.