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Real Estate Investing - An Essential Tool


Negotiation Tip: Name your Location

Here's another negotiation tip from Rent-to-Buy:

Whenever possible, you want to be the one selecting the location for your negotiations. Buying a home is almost always an emotion-based process. Once you find a home you like, you become emotionally attached to it. Emotional attachment can cause you to make unwise decisions when making an offer, handling negotiations, and so forth. Once you’ve fallen in love with a house and visualized it being your home, you’ll start to do WHATEVER it takes to make sure it becomes your home.

For instance, if you are making an offer to the sellers and are staring out the window at that swimming pool you fell in love with, how strong do you think you’ll negotiate? The answer is: not very. You’ll do whatever it takes to get the home because your emotions are controlling your negotiations.

You might be better off meeting with the seller on neutral ground to make your offer. This will help you keep your mind focused on buying the rent-to-own home without being so emotionally attached to it.

If you are working with a real estate agent, you won’t be meeting with the seller in person to make your offer. Your offer will be submitted through the agent. This way you don’t have to worry about the location of negotiation.