Ensure your your offer is accepted with this straightforward guide on how to negotiate.
You have been busy browsing Thailand Property. You have been out on viewings and then you have found the perfect perfect. With high ceilings, modern bathrooms and a finish liken that to a five-star hotel, you want this one. But now the hard work really begins: getting it at a price that you want. Learn to negotiate like a pro in 5 easy steps.
1. Keep your cards close to your chest.
It probably won’t be that easy hiding how much you like a property. But remember to keep a level head and don’t let on how desperate you are for it to the real estate agent or owner. If they have seen that you have fallen head over heels for it, then they will know that you will give anything to get it. But if you do give too much away, don’t forget to drop in the negative points too such as the old air conditioning unit in the bedroom that will need replacing that should be factored into the agreed cost. t
2. Be nice to your agent.
If you are lucky, you may get some insider information from your agent. They may let on how much the owner is willing to accept or how desperate they are to sell. Get on side with your agent but whilst doing this do not forget point 1. This can be a tough balancing act as many agents get paid commission on the sale so it is in their best interest to sell at the highest price. So tempt them to work hard for you by reassuring them that you will use their service to rent out the property or sell it later down the line.
3. Decide on a starting point.
With any negotiation you need to decide on the starting point. Be realistic and come in at a reasonable level. Too low and the buyer won’t take you seriously and may perceive that this is a game in your eyes and they may not be willing to participate in any sort of negotiations.
4. Back up the offer.
When placing an offer remember to back it up with why it is a good offer. Are you looking to transact immediately? Do you have the funds in place? Is the lower offer because you noted that the water tank needs replacing? Did the property next door recently sell at this level? Provide comparable evidence to back up your offer.
5. Stick to your guns.
Nothing is more frustrating than a person who constantly changes their mind. Be serious about your property purchase in Thailand and make sure you do not move the goal posts. This will irritate the agent and the seller and could result in them choosing another offer over yours. Keep to your word as a loyal customer counts for a lot.
If you are still looking for a property to rent or buy in Thailand, check out our comprehensive listings online here.