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articles > Action Plans Achieve Results!
Article > Action Plans Achieve Required Results


Article kindly supplied by Raymond Moore

www.nutcrackerclinic.com
01789 268999

If you want to source your own properties, you need to plan your marketing and negotiations. You can't expect home sellers to knock on your door and just offer their property to you! People who plan and prepare have a much higher chance of success so here is a 10 point action plan to remind you of what needs to be done to secure that bargin property.

 

Your 10 Point Plan to Achieve a Required Result

1. Research
2. Decide what is Negotiable
3. Plan Strategy
4. Negotiation Team

5. Use the Right Time and Place for Negotiation

6. Requirement Outline

7. Ask Questions and Listen for Answers

8. Don’t Reveal your Negotiating Position and Avoid making Unnecessary Concessions

9. Beware of Negotiating Tactics used on you

10.Draw up a Contract.

Always achieve a win-win situation! It may be that you have won and they have lost but it is all about the vendor so put yourself in their shoes and see the proposed deal from their point of view.

 

1. Research

  • Decide what result you want
  • Do basic research on Vendor to find out what his needs are, how quickly he needs to act and on the property
  • Due diligence on the property

 

2. Decide what is Negotiable

  • Draw up a list of important factors
  • Decide on which can and can’t be negotiated on

Get the best finance solution from Raymond at the Nutcracker Clinic

3. Plan Strategy

  • Supporting arguments for the weaker parts of negotiating skill such as ‘The Benefits of Selling to you rather than an Estate Agent’ which are:
    1. Quick Sale and Completion
    2. The price offered is the net amount received
    3. Saving on mortgage interest over several months
    4. Saving on Estate Agents fees
    5. Saving on Solicitors fees
    6. Not dependant on poor or lazy Estate Agent
    7. Not dependant on Estate Agent losing interest and putting property on the back burner
    8. No time wasters viewing
    9. No viewers no turning up
    10.No inconvenience of time spent on getting ready for each viewing and having them traipsing around the house
    11.Not stuck in a chain
    12.No broken chain
    13.No solicitors costs if they withdraw before completion
    14. No lost time or sale if viewer cannot raise the money
    15. No losing of next property for any of the above reasons

 

4. Negotiation Team

  • Bring in others who have different skills e.g. Valuer

 

5. Use the Right Time and Place for Negotiation

  • Choose mutually convenient and do not be under pressure to close the deal


6. Requirement Outline

  • Open discussions stating requirement
  • Get vendor to state their starting point

 

7. Ask Questions and Listen for Answers

  • Find out what the vendor wishes to achieve and if flexible

 

8. Don’t Reveal your Negotiating Position and Avoid making Unnecessary Concessions

  • If concession is given, look for a reciprocal response
  • Only give concession if it will lead towards successful outcome
  • Never appear keen to do the deal
  • Have responses ready for any questions asked
  • Here are some pointers to improve your Negotiating Skills
1. People like people who are like themselves
2. They make this decision within 30 seconds therefore make this rapport immediately by portraying a naturally friendly greeting
3. Be dressed appropriately; be totally interested and concerned about their situation
4. Mirror the client in the way you sit, listen and ask questions
5. Nod head in agreement
6. Match your breathing to theirs, your way of speaking, etc.
7. Listen more than speaking, do not butt in
8. Let them think that you have a solution for them
9. Put yourself in the other persons shoes. Remember their emotions may be running high, agitated, confused, etc.
10. Rapport is established and kettle on

 

9. Beware of Negotiating Tactics used on you

  • Be aware of common ones used e.g. deadline referral or another person
  • Do not be rushed by any of these
  • Make a note of each one to make it clear that it has been understood

 

10. Draw up a Contract.

  • When negotiation is completed get agreement down on paper
  • Get it signed by both parties
  • It will not be legally binding but it will focus both parties on what has been agreed

 

Follow this 10 point Action Plan and you are sure to succeed!

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