With the market becoming more balanced, quality and professional buyers' agents are changing their negotiation tactics to help their clients achieve wins that were once impossible in the frenzied market of the last two or so years. Here's how they're doing it.

Being more assertive.

Buyers' agents are now able to be more assertive in negotiations than they were in the past, when sellers had all the power. While sellers can refuse requests made by the buyer and buyer’s agent, they’re more likely to concede in this market.

Leverage other listings.

If you're interested in a property but the seller is reluctant to negotiate on price, you can try leveraging other listings against each other. Mention similar properties in the same market that may be a better deal, and explain why. This could light a fire under the seller and help you get the price you want.

Marry the house, date the rate.

If you're on the fence about buying a home because of elevated mortgage rates, here's some advice: go ahead and buy the house you want (as long as it makes sense for you financially), but keep refinancing in mind for the future. Rates will eventually come down, so you can always refinance later to get a better rate. In the meantime, enjoy your new home!

Waive your rights? Not so fast.

Making it clear to the seller that you will not waive things like a home inspection or appraisal shows that you are serious about this purchase. The market is normalizing, so there is no reason to make any concessions. Keep your rights in the contract and don't give them up just to do it.

Pressing pause.

You should never feel rushed into making a decision on a property. Your buyers' agent should be encouraging you to do your due diligence and research every aspect of the home before making an offer. You don't want to end up regretting your decision later because you didn't have all the information you needed. Take your time, ask lots of questions, and make sure you're comfortable with the decision before moving forward.

In this market it’s not uncommon for buyers to walk away from negotiations if they feel the deal isn’t sweet enough. If you find yourself in this situation, don’t be afraid to step away from the bargaining table for a week or two. This could give you the leverage you need to get the price and terms you want.

Looking for an agent that is ahead of the curve? We have more tricks up our sleeves that will help you get the home you want for a price you can feel good about! Use the contact form below to get in touch with us today!