Before negotiating a real estate deal, it is important to be prepared

[Jorge Vazquez]

Before negotiating a real estate deal, it is important to be prepared. This means conducting research on the property's market value and recent comparable sales, as well as staying informed about trends in the real estate market and any local factors that could affect the property's value. It's also important to have a clear idea of what you want from the deal before starting negotiations. By doing your homework, you will be better positioned to get the deal you want. For instance, if a property is listed at $500,000 but your research shows that comparable sales in the area support a value of $475,000, you might consider starting the negotiation at $465,000. The seller may then counter with an offer of $485,000, which is still below their asking price but reflects their motivation to sell.