How to negotiate a real estate contract

Juli,

Don't we love a buyer with common sense. 

@LEANN Sink when trying our best for our buyers we can get caught up in saving them so much money that we risk loosing the house deal. It is indeed a fine line. Keep your eye on what they want. It is not always that extra $1000.

Dream client! You both did your homework and it paid off. Great post, thanks!

Happy to hear the Phoenix market is hot these days-hope it spreads throughout the country!

Juli, your Phoenix buyer is wise.  I suspect his Realtor is top-notch!  This transaction is a good example why it's essential for both sides to understand the  wants, needs and goals of the other party.  If only we could clone this buyer!

Great, Juli! It's always nice to work with a reasonable, educated, prepared client!

The buyers was motivated and logical.  When they are this way . . . guess what?  They get the property they want to call home!

Juli, When both sides in a transaction understand that they may have to give a little during the negotiation process, things always seem to go much more smoothly and quickly. Great post!

It takes two to close and both must be reasonable and motivated to achieve their goals. Great post.

In my negotiations, I always tell my buyers to think of the seller's reasons for selling.  Put themselves in the seller's shoes, if you will.  I have been very successful with that approach.  I ALWAYS want to get the best for my buyers, but if I insult the seller, the buyer ends up with nothing.

Like many have written Juli, I also recommend looking at it from the sellers' side as your buyer did.     "Win-Win" might seem like an overused term but it's a very successful approach to negotiating when the buyer really wants the home.

Congratulations!

Juli, you we blessed with a rational buyer that used his common sense.  I will often ask a buyer that wants to low ball an offer if they would be willing to just give someone a $40-to $50,000 deduction in good spirit

This is a fantastic post Juli!  

I want to be known in my marketplace as a skilled and creative negotiator, can anyone recommend some "true to life" and practical books that I can read? 

Thanks. 

I wish all buyers had this much common sense.  Knowledge is power.  Seeing the other persons perspective will lead to success.

It would be great if the buyers were as pro-active as yours.  Many aren't.  Our market here in the Indianapolis area is getting pretty hot.  Sellers know that they can get their price and most often here will hold out for it.  Trying to tell a buyer and even showing them the statistics and the Active, pending and sold just doesn't work sometimes.  Sometimes they have to go through the school of hard knocks.  It is wonderful when a buyer and seller are both reasonable and are willing to come to terms with each other. 

Keep this one in your files.

Surely there will be one which is as difficult and annoying as this one was pleasant.  This will remind you as you are going through that horror, this will remind you that there is beauty & grace & wonderful clients in life.

I'll bet his personality type if an INTJ ... I love working with INTJ's and INFJ's.

This is a good post and we all need to remember that both parties need to feel they won something or the deal will just not happen.

Good advice as long as the buyer can accept the reality of what the comps are showing the market to be

Wonderful advice and kudos to your client for being fair. Sounds like you had a good seller, and agent, on the other side, too.

How great is it to say "hot Phoenix market". I can remember being out there in 2009-10-11 and it was very different. So glad our industry recovered strong. Great post, good points. We need to remind our clients, both sides need a win and it's chess, not tackle football.