Post to Facebook on 25/6/2018 at 9:25 AM
Commenting on “Negotiations now ‘part of the auction process’ as more Melbourne homes pass in”
https://www.domain.com.au/news/negotiations-now-part-of-the-auction-process-as-more-melbourne-homes-pass-in-20180623-h11rfq-441262/?fbclid=IwAR1P4Lb5kf_wOzeVfKtqGnE8pP2TJOikkjiZ2PKq4-M-kQgEra7_Bhg08CI
Que sera sera, 'whatever will be, will be' means that the future is up in the air, and whatever is going to happen, is going to happen. It is equivalent to “let nature take its own course”.
So do you need to go into the owner’s house to negotiate between the owner and the highest bidder after the property (house) is passed in? Why didn’t you give more when you were out in the open?
You are a “captured” victim if you walk into the house, even you may be cordially invited by the auctioneer accompanied by an agent or representative who had been standing next you throughout the auction.
The owner is unlikely to have much negotiation skill, and therefore you are at the mercy of the professional who will tear you apart and break you emotionally. You end up signing on the dotted line parting another 5% or more of your precious money.
The auctioneer and other agency staff know it immediately how much you like the house and want to buy it, because you agree to walk in to negotiate. Furthermore, your body language sends out the signal to say, “I buy it, I buy it”.
The pressure is extremely intense, and your heart palpitate so much that it is about to jump out from your mouth. The so-call negotiation is only one way, UP. There will be a lot more heavy selling, which targets on what you have told the agent from day one.
You are unlikely to get a good deal, because you are in the owner’s territory. You cannot get out because the door is locked.
May I pause a while and bring you to one of my earlier blogs. I did mention that you should tell the agent only the things they NEED to know, and not everything you want to tell.
Obviously paying a higher price is not an issue if you can afford to do so, otherwise, compound interest mathematics will show that you will be paying thousands or even tens of thousands more over the life if the loan.
There is always the fear of losing that house to the second highest bidder or another unknown interested party. The question is, if that bidder was so keen, why didn’t he show it by giving a bit more than you in the open?
How about telling the agent to give you a call at certain time that afternoon or evening and meet you at home or a neutral place, but never the agency, to talk about it? You can always say that you have to attend another auction or open-for-inspection.
You should choose a spot in the house where you feel most comfortable, so that you are on the upper hand.
Please remember, que sera sera. If that house belongs to you, you will get it sooner or later. If you fail at the auction, it may be a blessing in disguise. If someone manage to buy it, do not cry over it. Let a new search begin!
Thank you for reading
https://www.domain.com.au/news/negotiations-now-part-of-the-auction-process-as-more-melbourne-homes-pass-in-20180623-h11rfq-441262/
Commenting on “Negotiations now ‘part of the auction process’ as more Melbourne homes pass in”
https://www.domain.com.au/news/negotiations-now-part-of-the-auction-process-as-more-melbourne-homes-pass-in-20180623-h11rfq-441262/?fbclid=IwAR1P4Lb5kf_wOzeVfKtqGnE8pP2TJOikkjiZ2PKq4-M-kQgEra7_Bhg08CI
Que sera sera, 'whatever will be, will be' means that the future is up in the air, and whatever is going to happen, is going to happen. It is equivalent to “let nature take its own course”.
So do you need to go into the owner’s house to negotiate between the owner and the highest bidder after the property (house) is passed in? Why didn’t you give more when you were out in the open?
You are a “captured” victim if you walk into the house, even you may be cordially invited by the auctioneer accompanied by an agent or representative who had been standing next you throughout the auction.
The owner is unlikely to have much negotiation skill, and therefore you are at the mercy of the professional who will tear you apart and break you emotionally. You end up signing on the dotted line parting another 5% or more of your precious money.
The auctioneer and other agency staff know it immediately how much you like the house and want to buy it, because you agree to walk in to negotiate. Furthermore, your body language sends out the signal to say, “I buy it, I buy it”.
The pressure is extremely intense, and your heart palpitate so much that it is about to jump out from your mouth. The so-call negotiation is only one way, UP. There will be a lot more heavy selling, which targets on what you have told the agent from day one.
You are unlikely to get a good deal, because you are in the owner’s territory. You cannot get out because the door is locked.
May I pause a while and bring you to one of my earlier blogs. I did mention that you should tell the agent only the things they NEED to know, and not everything you want to tell.
Obviously paying a higher price is not an issue if you can afford to do so, otherwise, compound interest mathematics will show that you will be paying thousands or even tens of thousands more over the life if the loan.
There is always the fear of losing that house to the second highest bidder or another unknown interested party. The question is, if that bidder was so keen, why didn’t he show it by giving a bit more than you in the open?
How about telling the agent to give you a call at certain time that afternoon or evening and meet you at home or a neutral place, but never the agency, to talk about it? You can always say that you have to attend another auction or open-for-inspection.
You should choose a spot in the house where you feel most comfortable, so that you are on the upper hand.
Please remember, que sera sera. If that house belongs to you, you will get it sooner or later. If you fail at the auction, it may be a blessing in disguise. If someone manage to buy it, do not cry over it. Let a new search begin!
Thank you for reading
https://www.domain.com.au/news/negotiations-now-part-of-the-auction-process-as-more-melbourne-homes-pass-in-20180623-h11rfq-441262/
