What Type of Dog are You?
How much should I offer? That is a question I hear often. The answer is not always easy to answer. It depends on how much you want the property and perceived value. One way to look at it, is to compare it to dog types:
The yipper - bidding extremely low is like a small barking dog that is yipping and yapping at your heals. The seller is likely to get annoyed and not do anything, ignoring the offer and not countering.
The pitbull - making demands and acting like the buyer has the upper hand. The seller is likely to recoil and shut the door on the deal. Neither of the above are likely to have positive results.
The lap dog- this is when the buyer really wants the property and gives the seller everything right from the start. Akin to jumping in the seller's lap with tonque wagging. Most likely the buyer will get the property, but may be giving up too much.
The stealthy dog - offering just enough to get the seller to play with you. One of those dogs the quietly comes up to the seller, looks them in the eye and the seller can't help but to start patting the dog or scratching it behind the ears. This is likely to end up with both parties getting a good value.
No matter where you start negotiating, it is important to have a true understanding of the market value of the home. It could be that the house is overpriced, under priced or at market value. It may make sense to pay the listing price and occasionally over asking price.
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