This week I blogged about the use of cameras and security systems in a house I toured. I addressed the fact that showings should be private. Eyes and ears around are unnerving. Nonetheless, it's a property feature and part of the home, so it wasn't a complaint or ciriticism, really, as much as I was lamenting because I had a bad hair day and didn't want the cameras on me and especially didn't want all monitors in every room showing me ME all the time! That's really all it was about.
But what the post brought up is basically negotiation strategies. Many commented saying they advise their clients not to show any emotion in homes, not to comment freely, not to react in any way, shape or form. Interesting.
Many said they would not only feel watched, but listened to if they saw all the monitors I saw. They would refrain from discussing the deal in the house. In essence, they would have to make silent notes and move on somewhere else to do the chit chatting about the house. Hmmm.
In the past, I've had people say similar things about, for example, the lender pre-approval letter. Don't show the seller how much the buyer approves for (when higher than list price) because that gives the seller leverage... they know the buyer can afford it. Ok.
I'm not buying some of these negotiation surmisings. I get where they are coming from, but I'm not buying it. This is where I come from and I realize it's often another planet:
1. If someone's buying my home, I want to know they are excited about it. Bring on the pom poms. I may capitalize on their excitement if I know about it, ok, fair enough, but, look, at the end of the day that girl is just as excited as the next. Seriously. A hot house is a hot house and if one girl's excited, so will the next girl. She needs to get excited to get the deal done faster. Let her go on and on about it onsite. Otherwise, she could lose it. Don't blow out any flames is more my motto.
2. If someone's touring a home, I want them to talk about the stuff while they are seeing it, touching it, imagining living in it. That's sealing a deal, there. I don't want to go to Starbucks and talk about it. The fun just got decaffeinated.
3. If someone quals for a $1M home and they are being conservative and buying an itty bitty one, then they are overqualified and I'm lovin' it. I don't think that weakens the negotiation one bit. At the end of the day a person will pay what they will pay and the other party using over qualifying info in such a weird way will just slow down the deal, ultimately. If a buyer has a pre-approval letter for $200,000 and offers $150,000 GREAT! Flex their muscle. Take them and turn down the one who is maxed out.
I think these conversations are really fun with both pros as well as clients. I've had clients in the past all they do is contract negotiation in their jobs and they are the first to admit, "but negotiation strategies are so different with real estate." I agree.
Have a great day negotiating today no matter how you handle your business.
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