Master Real Estate Negotiation or Get Left Behind! (Part 2)

Real Estate Training & Coaching School

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PART THREE: Know the Buyer’s Priorities

Whether you represent the buyer or seller, knowing what drives the buyer will give you an advantage.

Here’s what you must know before negotiating: (remember you get Buyer and Seller Prequalification Scripts and Checklists in Premier Coaching):

1️⃣ Buyer’s Interest Level – Is this home a must-have or just one of many they’re considering? How do they rate their interest on a scale of 1-10? If it's not a 10, what would it take to be a 10?

2️⃣ Buyer’s Qualification – Cash buyer? Pre-approved or pre-qualified? Have you called their lender? (Pro tip: Have their lender call the listing agent—it makes a difference!) Do they have a loan commitment?

3️⃣ Competing Inventory – How many similar homes are available? If this is the only one that fits their needs, they must act fast.

4️⃣ Contingency Plan – What happens if they don’t get this home? Are they on a month-to-month lease or living in an RV?

5️⃣ Financial Limits – Can they handle an appraisal gap or a bidding war? What is the limit to their funds? Are you using a Buyer's Net Sheet?

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