A real estate transaction is a lot more complicated than say buying a cup of coffee. Rather than simply paying a set price and being handed your coffee, there’s an extensive back and forth where major details are negotiated and eventually agreed on. 

Whether you’re buying a home or selling one, negotiations can be tricky. With the finish line in sight, it can be hard to know which details are worth holding firm on and where you should be minded. 

In this blog, we’ll touch on the intricacies of real estate negotiations, and what you should expect if you’re looking for a smooth process. 

Negotiations at a Glance

In real estate, the negotiation process is super important. This is where you and your real estate agent work with the other party to finalize the details of your transaction. In a perfect world, you and the other party would see eye-to-eye on every last detail right from the jump, unfortunately, that’s not always the case. 

Here’s the deal – if you’re looking to buy or sell in today’s market, you’ll probably need to be a bit flexible during the negotiation process. While this won’t mean letting go of your goals altogether, being open to small changes can be the difference between getting the best conditions possible on your purchase or sale and having the deal fall through.  

Acing the negotiation process is all about working with a reliable and experienced real estate agent – we’ll talk a bit more about that later in this blog. Next, we’ll look at some of the specific considerations you may want to keep in mind during the buying and selling processes. 

Thinking about your next home purchase? Check out these blogs for helpful tips and insights! 

• Is it a Red Flag if a Home Isn’t Selling
• What Are My Mortgage Options in Today’s Market?
• Is Now the Right Time to Buy in Durham Region & Kawartha Lakes?

Resting Perspectives 

Just like other steps in the process of buying or selling a home, emotions can run high during the negotiation process. For some, the idea of bending parts of the sale beyond their personal preferences can feel like they’re getting the short end of the stick – even if it’s just a tiny change or adjustment. However, not every agreement of sale will favour one person over another. 

Creating Leverage 

Remember, negotiations go both ways. So, if you’re willing to be flexible on certain details, it can give you leverage in other areas. 

Let’s say you’re selling and the buyer wants to move up the possession date by a few weeks. Being flexible could be the difference between the deal going through or the buyer walking away. While it may not be ideal to move out sooner than expected, it’s always possible to find temporary accommodations if needed. Plus, you can leverage your flexibility when negotiating on other details like the sale price. 

Need more advice on selling your home? We’ve got you covered. Check out these other blogs for important insights!

• Do I Need to Make Property Upgrades Before I Sell?
• How to Price a Home to Sell
• How to Find a Reliable Real Estate Agent

Trusting Your Agent

With so many details and variables on the table, the negotiation process can be stressful – especially if the other party is seemingly driving a hard bargain. Sometimes the best possible outcome doesn’t 100% align with the one in your head. So how can you be sure when a deal is ideal? 

At the end of the day, getting the best result possible from your home purchase or sale will mean trusting your agent’s recommendations. Your agent is your personal real estate guide – it’s their job to ensure you land the best deal possible based on your goals and expectations. We get it, trusting your agent’s recommendations can be nerve-wracking, especially if you’ve had your heart set on a certain detail like the final price or possession date. However, as a dedicated industry professional, they’ll have the insights and intuition 

Partner With Puckrin & Latreille

If you’re searching for an experienced and reliable real estate team who will advocate for your best interests at every turn, look no further than Puckrin & Latreille. With our team at your side, you can rest assured that we’ll steer you towards the best deal possible in any market. 

Our team’s expertise spans multiple generations, we’re talking more than 175 years of combined experience. As a result, we’ve worked with every type of client in every type of market you can imagine. Using this knowledge to your advantage, our strategic approach to negotiations ensures you’re able to 

Buying or selling in Durham Region or Kawartha Lakes? We can help. Call 905-985-7300 to reach our team or click here to send us an email. 

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