Steps in negotiating a Boston condo for sale

Boston Condos for Sale and Apartments for Rent

The other real estate reality shows are so full of drama that they are barely watchable. While they do pack some drama into Ryan’s new show, Owning Manhattan on Netflix, they mix in a few examples of him doing a masterful job of negotiating between agents and principals to make deals. Specifically, listen to his verbal discipline when talking on the phone – Ryan says very little, and keeps all the attention on the price – no stories or verbal vomiting.

He demonstrates a realtor’s most important job:

Say the right things, the right way, at the right time.

And he could give you the list of the things to say – it’s saying them the right way, at the right time that makes the difference between highly productive agents, and the rest.

He makes it look easy, but the mental discipline to gently yet succinctly assist people with making the right decisions is an art form and extremely uncommon.

I watched the eight episodes that have come out and thought Ryan’s negotiating was the most accurate representation of high-level agent deal-making that has ever been documented. Ryan also loses three key agents during the first season, which is another part of the business – agents are known to move around, and aggressive recruiting (particularly by Compass) is a constant threat.

This is just the trailer – if you are an agent or big fan of real estate, watch the whole series:

Floyd Wickman said it best. Don’t sell with blah blah, when you can sell with blah.

Oh, the 5-offer bidding war with my buyers? After a week of kicking it around, the listing agent finally called last night. Her sellers decided to not conduct a legit bidding war (even though the listing agent had promised it all week) and instead they sold the house to a neighbor at an under-market price.

It was a great example of how most potential bidding wars get botched by amateur listing agents. The realtor doesn’t take control of the situation and it just goes where it goes – and buyers get screwed.

Steps in negotiating a Boston condo for sale

Buying a Boston condo for sale is an arduous process, but if you do your homework you can negotiate the condominium price down and save yourself some money.

While searching for downtown Boston properties, chances are that you might come across one or two that are just out of your financial reach. Those condominiums might be a great buy, but if you can’t afford them, they’re out of your league, right? Not quite. If you’re smart and know how to do it, you might be able to negotiate the asking price to make them fit your budget. 

Even in a Boston condo seller’s market, it’s possible to find property owners who are open to home price negotiation. If you want to get a good reduction on the house you want to buy, knowing the right techniques will help you save money while also reaching a happy medium with sellers.

How To Negotiate a House Price

Price is the hardest issue to deal with for many homeowners, so it’s naturally the aspect of the condo buyer that will be most heavily focused upon when dealing with Boston home sellers. So here’s some ideas on how to negotiate the property price down.

1. Do Your Research on the property

The first step to negotiate a condominium price down is to do your research. You should find out as much as possible about the home, the seller’s motivation, and the current conditions of the Boston condo for sale market. Our Ford Realty agents will help you find out key stats through the use of comps as well as their own knowledge.

2. Consider Any Issues With the Home

The next step you should do to negotiate the unit price is to take a look at any issues the home may have. You should hire an appraiser and an inspection to help you take note of these. By pointing out the issues to the seller, you can help negotiate the property price down. 

3. Putting Together A Boston Condo Offer

Now with your Boston real estate broker it’s time to start putting together your offer. Think about what you want to offer and how you can sweeten the deal. Can you offer a better closing timeframe? Are you willing to waive certain contingencies on the offer? If so, you might be able to use that to your advantage to get a better price.

4. Submitting The Offer to The Boston Condo Seller

Make an offer for less than the home’s asking price, citing the issues. Your realtor will help you put it together in a way that will be tactful. Along with a standard offer, you can also include contingencies that will help protect you and the seller.

5. Negotiate the House Price and Reach a Deal

The final step is negotiating the home price with the seller and reaching a deal. The seller can reject the offer or make a counteroffer. You can choose to accept that counteroffer, refuse it, or make a counteroffer of your own. 

Boston Condos for Sale and the Bottom Line

I hope this information helps. For more details please feel free to contact me anytime cell/text 617-595-3712. You can also visit us at our Beacon Hill office at 137 Charles St.

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