Category Archives: Purchase Negotiations

A Simple, Effective Strategy for Bidding At Auction

I bought a property at auction for a client the other weekend with a simple but effective strategy… Quietly study the competition until bidding hits the reserve, wait for things to slow down a bit, then bid hard. Every property, campaign, and auction is different, so this isn’t a one-size fits all approach (i.e. I use different […]

Passed-In Properties Make for Good Buying

Successful negotiators seek to create urgency on the other party. When an agent tells you that interest in a property is high, or that his/her vendor is seriously considering an offer from another buyer, your heart rate goes up – you don’t want to lose it!! Auctions create urgency amongst buyers, because an auction campaign […]

Some of the Best Properties Never Hit the Market

If you’re looking for a specific type of development property, then yes, it is important to establish relationships with local agents. In search of a townhouse development project 10-odd years back, I introduced myself to agents at opens, and explained my specific requirements (under $500k budget, corner block, dual occupancy, etc). Of course, as a result, I […]

The First Negotiating Principle – Know Who Has the Leverage

Negotiation is about leverage. When purchasing a property, you have the most leverage when: It has been on the market for a long time, and/or No competition exists from other buyers The first point of leverage (time on market) is easy to determine, and simple to understand. Every property will sell for the right price, and […]