Note to buyers, sellers and in this case perhaps most importantly myself, patience is a virtue.  Don't get me wrong,  I'm the type of guy who often wonders when something isn't done, why it wasn't done yesterday and in Real Estate, in many cases I've found this to be a good attitude.  For example, when you're waiting on finishing details with a sales contract, inspections etc. you don't ever want to procrastinate.  All you're doing is setting yourself up for disaster.

But in the negotiation phase you have to be patient sometimes.  When you're on the list side of a deal and a co-broke sends you a lowball offer, you are not obligated to jump all over it and start caving in right away.  Let the buyers stew for a night on this one.  Let the buyers question their offer price.  Should we have come in higher, did we offend them etc.  I always coach my sellers that an offer is ALWAYS a good thing, no matter where it starts, it could end up satisfying both parties.  But negotiation is a give and take.  If you're negotiating style is give, give, give then you'll give away the store.  

Even worse, your seller will see that you're anxious and they'll start to feel like they're about to get screwed.  The buyers who already have an upper hand in this market will start feeling entitled to some sort of unbelievable deal and become self righteous.  Take it or leave it will be their attitude.  All of a sudden, a deal that was meant to come together will be falling apart before your eyes.  Remember, in all other phases of the transaction, push, push, push but when you are negotiating, remember to be be cool, calm collected and a little patience can go a long way.   

 

Listening to your seller clients
06/15/2011
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At our office we are trained NOT to take every listing. Lets face it, if you're going in the door taking a listing with the sole intention of grinding the seller down over time on their price until they reach the cusp of market value, you're not… more
He/She Who Hesitates is Lost
06/14/2011
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Real estate is not for the faint of heart. When you see what you want you have to reach out and grab it. Being aggressive is a good thing If you're a home buyer and you see a property you love and get your offer together that night, or the next… more
Busy day
06/12/2011
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Open house at 116 Grace Street in Cranston. Great colonial with Victorian influences, high ceilings, big rooms, renovated in 2008. Its on a quiet street off Park Avenue but a stones throw from shopping and amenities at Garden City. After that, I… more
Referral Business
06/11/2011
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There's nothing better than referral business. I got started with a new buyer yesterday who was referred to me by a previous client and its great to start out where trust is already established. My new buyer told me that our mutual friend Molly… more
Don't Blame Homeowners for Today's Housing Crisis…
06/09/2011
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This is a good article.   People who bought homes at the "bubble times" were not all greedy scalawags,  mainly just hard working people who saw homes continuing to appreciate and were worried about getting further pricedd out of the market.   A… more
Buyer Consultation
06/08/2011
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One of the most important and most often skipped steps in buyer agency is the initial buyer interview. With gas at $4 per gallon, buyers don't need to see 35-40 houses spread acroos four towns in order to make a buying decision, if their agent takes… more
 
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Matt Patty

Warwick, RI

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Address: 831 Bald Hill Road, Warwick, RI, 02886

Office Phone: (401) 739-9500

Cell Phone: (401) 269-6169

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