Negotiating a better price

[Jimmie Lloyd]

I'm a beginner in this big pocket  forum  my question is I found a house for 24000 and needs repairs  can I negotiate a better price is that possible

[Tom Shallcross]

Welcome @Jimmie Lloyd.  Yes, everything is negotiable.  I had a similar post about Chris Voss's method that I've copied and pasted below.

Chris was on podcast 260 and he does a great job of explaining negotiations. I read his book and now apply what he calls the Ackerman model to my negotiations:

1. Set your target

2. Offer 65% of your target

3. Make three raises of decreasing increments - 85%, 95% and 100% of target

4. Leverage empathy framework explained in the book without ever saying no to the seller

5. Use precise numbers on your final offer so it is perceived as well calculated and your bottom offer

6. Offer up some sort of non-monetary incentive to show you are at your bottom dollar and also trying to make the deal work.

There's much more to it than these 6 steps, but it's a good framework for starting a negotiation. Be prepared to get a lot of No's, but persistency will prevail and you will be able to find common ground.