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Real Estate Negotiation Strategies for Buying Your Next Home
When you are buying a home, you will face all kinds of people - people motivated by a variety of factors. By identifying their skills and preferences, you can form a strategy that will improve your negotiations skills during real estate transactions. When negotiating the purchase price of a home it can be helpful to group people into three broad types - analytical, visual, and intuitive - in terms of the way their thinking influences their behavior.
Analytical People - The analytical home seller is mostly influenced by financial, statistical and factual matters. Most often, analytic people tend to prefer occupations that require working with numbers such as accountants, financial analysts, auditors and tax consultants. They tend to be left-brain thinkers. You can appeal to an analytical home seller by being fully prepared with information related to the financial or factual side of the home purchase. You can possibly even down-play aesthetic or intuitive matters, such as how nice your house looks, what a good neighborhood it's in or how you are a trustworthy buyer.
Visual People - The visual home seller will focus on how things look and feel. In terms of selling a home, the seller will undoubtedly stress the aesthetic pleasantries of the home including the surrounding good neighborhood. Many artists, writers, actors, interior designers and other people who work in creative jobs tend to be art conscious. As you might suspect, visual people tend to be right-brained thinkers.
Intuitive People - Intuitive thinking home sellers are influenced more by how they feel about the home, you or situation. People who work in occupations that require rapid analysis, diagnosis, and action are often intuitive thinkers. This includes doctors, lawyers, general managers and salespeople. Work hard to promote a strong bond with this type of home seller. While you should do this with all people, the intuitive home seller places more value on ensuring they work with people they like and trust.
In reality, this is over simplified because you can't separate a home seller into a single personality type. Everyone has different experiences, emotions, and preferences that influence their behavior and cause them to straddle between the three personality types. The home buying process further complicates the characterization because you are often not dealing directly with the seller, but rather their real estate agent. Because of the nature of their job, real estate agents excell at straddling all three personality types. However, everyone including the real estate agent will have a stronger preference or alignment with one of the personality types. Once discovered, you can modify your strategy and approach accordingly.
You best learn a house seller or real estate agent's personality type during small talk and by asking general questions. This can be done casually early in the discussions. As you begin learning more about the home seller or real estate agent, be thinking about the three personality types and think about comments, questions and/or arguments that will help persuade the various types of people. Keep in mind, just because you are dealing with a visual thinking person, does not mean you can ignore or fudge the financial aspects. Doing so is naive and will leave you vulnerable. Once you determine the type of person you are dealing with, don't act like you have special insight about that person. Continue to act as you would normally while inwardly work on your strategies, comments and arguments to fit the type of person you're dealing with.
About the Author: Kristi Cole is a real estate and
home improvement specialist at www.inhomeimprovements.com
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