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