Negotiation tips

A. Muscat, 29 Jan 2016

1. Options

If there are similar properties on the market, as a buyer you will have the upper hand in the negotiation process. This is a simple matter of demand and supply - in Malta the supply is quite high so as a buyer you can find various similar properties with varying prices. Use this to your advantage.

2. Information

The more you know about the property, the neighborhood and the owner the more you will be able to negotiate a better deal. So make sure you make your research, write down points and ask the right questions when doing the talking.

3. Non-attachment

If you find your dream property, that you feel was literally made for you, try not to show it. It is especially important not to communicate this to the seller, as if you like so much his property, he will assume you are willing to pay more for it. The more badly you want the property, the more likely it is that you will do negotiation mistakes. Hence try not to negotiate when you are overly excited about the place and take the time you need to consider all aspects.

4. Timing

If the seller is under time pressure to sell, he is more likely to be lenient in his negotiations. Make sure that you do not have this factor working against you! Try to take the necessary time to negotiate and gather the information you need to help you with this important decision.

5. Terms

When negotiating make sure that you ask for a repair to be made or a price concession. The market as it is right now, it may be hard to get such additional terms, however to make sure that you are not losing out on additional benefits make sure to specify what you want to the seller. As they say if you do not ask you will never know!




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