If you are looking to invest in a property for capital gains or rental returns, it is often wise to have a game plan when dealing with agents. The practical experience of speaking to agents face to face and assessing real properties for sale is a very good investor experience and this experience can make you grow as an investor. Alberta Foundation Repair . Your job as a buyer, is to get the lowest price for the highest value. This is particularly true if you invest for imminent resale after a soft rehab. But even rental investors can profit from a higher percentage return of rents on a better price.
1) How you look.
The old adage “dress for success” is not really applicable as an investor when looking at properties. You may find in some cases if you and your partner dress smart while dealing with real estate agents, the price will typically go up. This is particularly true if you like to invest in towns away from your home. bathroom remodel contractor . Custom Jewelry . We discovered quite often, there is one price for locals and another price for out of town investors. Dressing down is a smart idea and looking like a local is crucial to get the more realistic price.
2) Never show interest or excitement.
Showing enthusiasm for a property or deal is a terrible negotiation tactic. There are always going to be issues when purchasing that you will need to be more in your favor. Even if the deal is a great one, you should save the celebrating for home, or in the car on the drive home. Having a poker face is a great way to keep your hand when you negotiate other things like a quicker or a longer settlement or immediate access to the property, depending on your needs.
3) Never fall for the competition angle.
It is a well known tactic for sellers to casually mention another buyer. If you have found a good deal, this can suddenly cause you anxiety and you may lose control of the process. Always make an offer with distance. Typically the next day or that night when you come home. You need that buffer to effectively assess the deal and apply critical thinking to the deal. There is always a lot to consider and think through. This also makes the agent more willing to present your first offer to the selling party. This makes it likely that your lower offer may be accepted.
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