Here are 3 three questions to ask the real estate agent before making an offer to help put you in a better negotiating position.
1. Have there been any other offers?
This is going to let you know how much competition there currently is and whether or not the seller is motivated to sell.
2. How long has the property been on the market?
If it has just has been listed on the market the seller is not likely to be anxious to accept the first offer.
However, if it’s being on the market for a few months the seller very likely and motivated to sell, so it’s going to give you some room for negotiation.
3. Why is the vendor or seller selling?
It is important to know the seller’s motivation which will help you in your negotiations.
Are they selling because they are getting divorced and can’t stand living in the same house?
Are they selling because they have to move interstate?
Have they bought their dream home and they are under pressure to sell?
Make sure you’re asking the right questions to get as much information as you can before making an offer.
Then play the game.
Subscribe & don’t miss a single episode of Michael Yardney’s podcast
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
Need help listening to Michael Yardney’s podcast from your phone or tablet?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
Prefer to subscribe via email?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.