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**Become A Real Estate Negotiating Rock Star With These Tips**
Negotiating the price of real estate can be very intimidating. It isn’t something that comes natural to most people. We don’t negotiate prices in day-to-day transactions. However, when it comes to property, things are different. Prices have to be negotiated. The good news is it is a learnable skill. You just need to learn a few things so you can become the best negotiator possible.
To be good at it, you need to understand that the basic goal here isn’t to win. If you look at it as a win-lose task, you may never feel good with any outcome. The idea is to come up with a good compromise that works for everyone. It is also important to understand that sometimes you won’t reach a deal and that is fine. Don’t look at it as a failure. Learn from it and move on.
Now to increase your chances of success, you want to start by finding someone who is motivated to sell. If the seller really just wants to unload this piece of real estate, they will be much more open to negotiating a price.
Make sure you do some research before you get started. Try to discover why the seller is selling. Find out the worth of the property by looking at recent sales and comparable property. Do a background check to see if the property has liens or other issues that could negate a lower price. Backing up your offer with some solid reasons will help you feel more comfortable.
You also want to build a good relationship with the seller. If you go in there and just start rattling off numbers, the seller won’t feel very connected to you. Make them feel comfortable. Get to know them a little. Joke with them, even. Building a good rapport helps you seem more sincere.
As you get to know the seller, don’t forget to learn about the property. Ask questions so you can get to know more about what you are about to invest in. Ask direct questions and keep them open-ended so the seller has to give you lengthy answers and can’t just answer yes or no. This will naturally lead you into talking money.
Ask them straight out what they want for the property. Sometimes they won’t have an answer, so since you did some research, you can now bring out the figure you came up with and explain why you think it is fair. Do keep your offer on the low side so it gives you room to negotiate.
Negotiating a real estate purchase can become second nature once you get the process down. It really isn’t that hard. The seller wants to sell and you want to buy, so you both have a goal in common of getting the property sold. Just keep that in mind and you should do fine.
**SEAL JOKE OF THE DAY**
Some people are extremely impressed when you tell them you’re a Navy SEAL. Case in point: My grandson’s Kindergarten class on Career Day. I regaled them with stories of my exploits in the military. After I finished, hands shot up into the air all over the classroom. The kids were eager to ask questions. One little girl asked, “Can you balance a ball on the end of your nose?”
ADM Financial Group is available to answer all of your concerns and assist you with financing options on commercial properties. Our underwriting is based primarily on the equity in the property, although a good credit record or strong financial statements will lead to a lower rate and a smaller loan fee.
ADM Financial Group provides alternative financing solutions for borrowers who have been turned down by the bank for a traditional loan or for those who need cash quickly. When it comes to receiving a commercial loan, banks should not have the final say. ADM Financial Group is a trusted provider of loans for business owners, investment property owners / buyers, and rental property investors in need of commercial financing. Whether you need funding to a single-family rental property or for a spacious multi-family unit property in your thriving community, we have commercial real estate loan programs tailored to your aspirations. Whatever your commercial real estate goals, we want to help you achieve them.
ADM Financial Group has some of the most flexible terms to help businesses get a Commercial Mortgage Loan that meets their needs effectively. Get in touch with us to find the most business-friendly mortgages in the industry today.
Acceptable Properties
All standing commercial properties including:
- Multifamily
- Office
- Retail buildings
- Strip centers
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- Industrial buildings
- Warehouses
- Mixed use buildings
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- Hotels
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- Gentlemen’s clubs
Contact one of our agents by phone at 888-737-9277 or visit our website to complete a short application online.
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