Have you just found your dream home but the price seems exorbitant? Then you're probably going to have to negotiate the price of the property. How do you go about getting it reduced?
We'll tell you the best strategies in this episode of Live Prague!
First of all, find out if the negotiation makes sense at all. If the seller has set the price correctly, your attempts to get a discount may be a waste of time and energy. How do you actually find out a fair price for a property? Check out our previous video: https://youtu.be/3GwM2b73DBc
But now to the actual negotiation of the price of the apartment. It pays to follow 5 rules.
1. Engage your charm, be nice, be friendly, smile. Such a person is more pleasant to deal with than a grumpy one and the seller is more likely to accommodate you.
2. Do not slander the offered property, do not find faults with it. If you "beat the seller over the head" with every little thing, you will not be very inclined to negotiate.
3. It's not all about money. Try to offer the seller a "consideration", e.g. part of the money up front, that the original owner won't have to move immediately, etc.
4. Be persistent. Just because the seller doesn't accept your offer right away, doesn't mean they won't eventually. So follow up on the offer and remind yourself.
5. Is a deal imminent? Then time your offer so the seller doesn't prolong the negotiations unnecessarily. And to secure the deal, "throw in" the aforementioned consideration.
One final tip. Always set your offer a little lower than you can or want to pay. This is so that you can "give in" during the negotiation and both parties are happy in the end.
And what helped you get a better price for your apartment? Do you have any other tips for proven strategies? Let us know in the comments!
0:00 How to Negotiate a Better Apartment Price
0:52 When it makes sense to negotiate
1:56 Be nice
2:44 Don't slander unnecessarily
3:29 An offer isn't just about money
4:07 Be persistent
4:55 End the negotiation correctly
5:25 How to make an offer
6:02 Recap
6:24 When you have a chance of success
When you're buying a home, price is definitely not the only thing you should focus on. Watch out for the most common mistakes: https://youtu.be/URcm7ZuTdEg
By the way, you may also come across real estate scams: https://youtu.be/VP1qONhl688
Wondering how you're going to manage it all? We'll give you some advice in this step-by-step video: https://youtu.be/VbzFGgoWPuA
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Daniel, Lukáš, Honza, Martina, Květa, Ruda