Finding a house you love is only half the battle. Negotiating the right deal is often the tricky part. Whether you’re a first-time homebuyer or a seasoned investor, knowing how to handle the negotiation process can be challenging, because if you don’t negotiate properly, it could end up costing you thousands of dollars losing out on your dream home.

Fortunately, there are many tried and true negotiation tactics you can use to help seal the deal.

  1. Keep your emotions out of it—Make no mistake, the home-buying process can be very emotional. It’s easy to get emotionally attached to a particular home, and that can lead you to making some serious mistakes when it comes time to negotiate a deal. Before you put in an offer, you need to know what your limits are. Don’t let your emotions cloud your judgment and cause you to compromise. You have to be logical and objective throughout the process.
  2. Use a comparable market analysis to determine a negotiation point—YourREALTOR® can provide you with a comparative market analysis (CMA)--an incredibly valuable tool for homebuyers—that provides information on similar homes sold in the area.  CMA’s are important in that they help you make an informed offer.
  3. Rely on a REALTOR®—Speaking of agents, having a good REALTOR® in your corner can be very helpful when negotiating a deal. You should always go through your REALTOR® when negotiating and putting in offers to help ensure no mistakes are made. Your REALTOR® can also provide expert guidance that will help you when crafting your offer. Make sure you communicate with your REALTOR® so you are both on the same page in regards to your needs and expectations.
  4. Act quickly and decisively—The market is in the midst of major recovery at the moment, and as a result, it is a seller’s market in many parts of the country. The inventory of available homes is dwindling, prices are rising, and more people are looking to buy a new home thanks to low interest rates and an improving economy. As a buyer, this means that you need to be ready to act quickly when you see a property you like. You also need to be fast in responding to counteroffers so that other buyers don’t swoop in and steal the property from right underneath your nose.
  5. Know when to walk away—Many homebuyers, especially first-timers, are scared of walking away from a negotiation. That’s becoming even more commonplace as we transition into a seller’s market. However, you have to know when it’s time to walk away. If the seller refuses to budge off of an unreasonable offer or a price that’s just too much for your budget, you need to be willing to walk away. Never throw away your standards just because you really want to get into a new home.


With a better understanding of the negotiation process and a seasoned REALTOR® by your side, getting a satisfactory deal on a new home can be much easier.

If you’re looking for a new home in the Outer Banks, let the agents at Coastal Outer Banks Realty help you find your dream home. Learn more at www.coastalouterbanks.com.