Negotiating is a skill, not luck. Avoid the traps that leave both buyers and sellers leaving money on the table.
A good negotiation can mean tens of thousands saved — or lost. Knowing the most common mistakes is the first step to avoiding them.
1. Skipping the market research
If you don't know the going rate in the area, you're negotiating in the dark. Compare similar properties before making or accepting an offer.
2. Showing urgency
Letting the other side sense you're in a hurry weakens your position. Patience is leverage.
3. Fixating only on price
Timelines, payment terms, and what stays with the property all carry value too. Sometimes the best deal isn't the lowest number.
4. Negotiating with no room to move
Opening with your bottom-line number leaves the other side no space to feel like they won. Plan your negotiating range in advance.
5. Ignoring the human element
There's a person on the other side of the table. Respect and empathy unlock deals that rigidity shuts down.
Negotiating well means preparing beforehand — not improvising in the moment.