So you’ve found a luxury home in an exclusive community in Las Vegas. Now what? Well, you obviously need to talk with your Realtor about the type of offer to put in on the property. They will have been able to pull comparables for that community in Las Vegas’ luxury market. They will advise you how much to offer and how to submit the offer to get it in front of the seller.
Here are some tips to help get your offer higher on seller’s stack:
• Do some research on the seller and their situation. If they are going thru a “rough time” in their life, that could work to your advantage. This doesn’t mean “low balling”- which might insult them, mind you. You want to be reasonable but still get the best price on the home you’re interested in. It’s all in how you negotiate.
• Along with that, work WITH the seller. The old axiom of “you attract more flies with honey” can go both ways. If you are overly demanding or unwilling to meet some of the seller’s needs, they will be less inclined to work with you.
• Be empathetic. You don’t need to get involved in the seller’s life but take the time to get to know them. You don’t need to be “friends” but if you show some humanity in a business transaction, that could go a long way to getting your offer accepted.
• As stated above: be reasonable. Yes, “it is business, not personal” but being overly demanding or unrealistic with your offer may have the opposite affect you want.
• Sellers are inclined to work with buyers who are not only reasonable people but who are willing to work with them. Be willing to make some concessions if you really want the property.
The big bottom line is if you really want the home in question; CONSULT YOUR REALTOR. Ask your questions and then listen to their counsel and heed their advice. As any good business person knows, LISTENING is far more important in negotiations than most anything else. You will learn a lot about the other party and their wants/needs/demands and you may even learn something about yourself.