Episode 2: How to Negotiate as a Buyer's Agent
Episode 2: How to Negotiate as a Buyer's Agent: Part 1
Learn how to negotiate the offer for your client as a buyer's agent. In this episode of The Follow Me Show: We discuss the difference between negotiating the sale in a buyer's market and a seller's market, and how to get your offer chosen above all others. ***DISCLAIMER: In this episode, the clause referred to as the "kickout" clause is what is known as an "escalation" clause, a powerful negotiation tool used during the offer process to provide an upper hand for your buyer in a multiple offer situation. ***
Rule #1 - Know your market. There are 2 types of markets that you will typically deal with in real estate. A certain type of market will require an understanding of inventory, or amount of homes currently on the market for sale, the price points of the inventory, and the types of buyers currently in the market to buy.
Rule #2 - Don't ask questions to answers you can find on the MLS. Before showing, scour the MLS for anything that will tell you as much about the home as possible. They will be willing to submit your offer fast if it shows you've done your research.
Rule #3 - Attract more flies with honey. Be willing and enthusiastic to tell the LA (listing agent) you're ready to submit an offer for your clients!
These three rules are will prep you to submit an attractive offer for both the sellers and the buyers, and get your clients the home they live in no time.
Listen to the podcast for a full breakdown of how to negotiate as a buyer's agent.