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Monday, December 15, 2014

Negotiation Strategies in a Shifting Market

The residential real estate market in Brevard County, Florida has shifted to a buyer's market as the inventory has dropped to a three month supply of homes on the market.

I have past customer who is always looking for an investment project home.  He emailed me last week about one that he had piqued his interest.  I responded that it was under contract after four days on the market.  His response was simple..."These people are too quick!"

As the real estate market continues its shift to a seller's market negotiation strategies must shift as well. 

It is simple economics that a limited supply and steady demand will result in rising prices.  It is inevitable.

Knowing the competition among buyers is more fierce the notion a seller will accept a large discounted offer should fade.  Of course, this is where your local real estate agent has the knowledge about specific properties which may be the exception.

Here are some related articles about negotiation and offer strategies.
A key component of the negotiation process (whether buyer or seller) is to know what a lost deal worth.   Is the one or two thousand dollars difference worth going through the whole process again?  What is the saying about a bird in the hand?

Ready to buy or sell a home in Viera, Florida?  Call me at 321-693-3850 if I can help in any way.

Send me an email for a free comparative market analysis.

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