Negotiating the Short Sale – Part I

Negotiating the Short Sale – Part I

While the residential real estate market has been heating up, there are still many short sales which need to be completed. Negotiating a short sale is probably one of the most complex assignments an attorney or realtor can undertake. Before ever attempting to negotiate a short sale, a person should have prior experience with negotiating deals. This is a must. If this is the first time you will be negotiating a deal, I would highly recommend a mentor.

short sale negotiationsWhen I negotiate a deal, I want to know everything about the deal. The first step is to gather as much information as possible about the situation. I start with the client. What do I know about the property, their finances, their marriage, their jobs, etc?  The list can be long, but it will help me help them.

Second, I want to know all the players involved in the deal. Have we ever negotiated before? What are my strengths? What are their weaknesses?

I think negotiators get into trouble when they enter a negotiation without having all of their ducks in a row. So the best advice I can offer here is to gather as much relevant information possible which will assist in making the best deal you can for your client.

Lastly, the best negotiators that I know are the ones who are also the best listeners. My dad used to tell me to keep my eyes open and my mouth shut. Little did I know that he was teaching me negotiating techniques forty (40) years ago. Or was he…………

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Posted on October 9, 2013, in Legal and tagged , , , , , , , , , , . Bookmark the permalink. 1 Comment.

  1. Sales Negotiation Training

    This is true that Negotiating a short sale is probably one of the most complex assignment.Thanks for sharing your steps of negotiate a deal. They are really helpful.

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