Knowledge Is Negotiating Leverage

By
Real Estate Agent with RE/MAX Elite 513.520.5305 www.LizTour.com SAL.2002007747

Back in my Navy days we wanted to know as much information as possible about our opposition while denying them as much information about us as possible.  Knowledge was power then and knowledge is power now, just in a different way for me now.

Whether I'm repping a home buyer or a seller in the Cincinnati area, I'm still looking for the knowledge that provides my clients the negotiating leverage to get them the best deal.

Some things are obvious and easy to figure out. 

What type of market?  Sellers', buyers' or neutral?

What are similar homes selling for?

How many homes are selling? 

Price points and features that are most in demand?

 

Other things take a little more digging to gain the leverage desired.

The motivations and the "whys" associated with the other party.

If they're sellers why are the moving?  Do they have a deadline?  How long have they been on the market?  Have they been adjusting their price or holding firm for months?  Are they posting info on Facebook that tips their hand?

If they're buyers, why are they moving?  (yes, some of the same questions for sellers apply to buyers too!).  Are they selling a house to buy?  And if so, is it under contract?  Any indication of how much they love the home?

Again, sometimes the information is right out there, other times there's some Sherlock Holmes deductions needed.  You hope for a name that's not common and you can find out more info.  A Google search here, a public records search there, a Facebook post not secured there and you just might have some leverage.  And sometimes the other side's agent may let slip just a bit too much information.  Maybe they weren't in the Navy?? :) 

The bottom line, the side that best understands the other side has the edge in negotiations and what it will take to get both parties to the closing table. 

Other questions about buying or selling a home in the Warren County Ohio area? Just give us a call at 513-520-5305 or email Liz@LizSpear.com.  We look forward to hearing from you!

 

Serving Warren County Ohio home buyers and sellers,
Liz and Bill aka BLiz  

 

Posted by

Serving Warren County Ohio & Adjacent Areas


The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS Ohio License SAL.2002007747

William (Bill) Spear, CRS Ohio License SAL.2004011109  Kentucky 77938
Ask for us by name if you visit the office!

EHO Two locations: Lebanon & Mason, OH
Bill Direct:  513-520-5305
Liz Direct: 513-265-3004     
Fax: 866-302-8418

MailTo:  LizSpear@Go-Concepts.com

Search Homes:  Http://WarrenCountyOhioRealEstate.com

Our Website:  www.LizTour.com

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Topic:
Home Buying
Location:
Ohio Warren County
Groups:
Ohio Active Rainers
Cincinnati Real Estate
Advice for Sellers
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Rainmaker
2,936,770
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

It is hard to argue a point if you don't have the facts or know something about the issue

Mar 20, 2017 03:52 PM #1
Rainmaker
1,780,031
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Knowledge is absolutely powerful stuff!  It opens the doors to opportunities which wouldn't be experienced otherwise.

Mar 20, 2017 04:46 PM #2
Ambassador
2,154,739
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

William, True!

Myrl,  Sometimes it's just the ticket to get us in the door.

Mar 20, 2017 04:55 PM #3
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2,707,066
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

BLiz- so agree with you...knowledge is power.  The more you know, and of course, the less they know about what you know, the better. 

Mar 20, 2017 05:28 PM #4
Rainmaker
687,628
Troy Erickson
Diverse Solutions Realty www.ChandlerRealEstate.weebly.com - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

BLiz - It is always best to gather as much information as possible in order to be prepared for negotiations.

Mar 20, 2017 06:00 PM #5
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2,154,739
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Kathy, It's a big poker game of sorts :)

Troy, I like to have a feel for how experienced the other agent is and any other info regarding their clients that will help the negotiations.  You never know what you'll see out in the open when showing a home.

Mar 20, 2017 07:16 PM #6
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2,260,327
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Bill - You're right. It what we know - and knowing how and where to look - that makes us valuable to our clients.

Mar 21, 2017 12:39 PM #7
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