Everything is negotiable!

“Let us never negotiate out of fear. But let us never fear to negotiate.”

Time is a great negotiator as I tell my clients.

My heart sinks when I am approached by a client who has fallen in love with a property that they have just seen and they tell me that the property is only just on the market. I know that in all likelihood it is going to be a battle and the chances of getting the property at a good price is greatly diminished by the fact that the property is only on the market. Obviously, it all depends where the property is located but generally an estate agent will certainly be more bullish in their negotiation where the property is just on the market. They will argue that if my client is wanting to buy the property they will have to pay “top dollar” as the seller has not tested the market. The untested market argument is one that is trotted out by many an estate agent and is a difficult one to argue against if the property is in one of the better locations in the city.

My view is that there is probably a 4 week window for an estate agent to use the untested market argument. Once you have gone past the first month, I would argue that the tables turn and there is a strong argument in favour of the purchaser saying:-

• The seller has tested the market

• Nobody is interested in the property.

• I am the only "cab in the rank" so lets negotiate.

The game can then start in earnest…………

If you are about to buy a property and would like to know a little bit more about the dark art of negotiating a price, I can certainly shed some light on the magic. Please do get in touch with me as there is nothing I like more than to do battle with an estate agent. Let the game commence!