How to be a hard core negotiator!

In every Real Estate transaction there is a natural conflict between the buyer and the seller. The seller obviously wants to get top dollar for their property and the buyer wants to low ball them and try to steal the property. In this market sellers have less leverage than buyers during negotiations but still have the ability to be hard core the trick for both sides is to be willing to walk away from the deal if the other party doesn't see things your way. Each party needs to get a figure in their head for a target price and sticking to that figure as their bottom line.

For sellers in this market that figure may be unobtainable if that's the case they need to be prepared to pull their property off the market and wait until the economy rebounds until their property will fetch the desired price.

For buyers you must remember to make decisions with your head and not fall in love with a property and make an emotional decision. There are plenty of properties on the market and plenty of deals to be had so be patient and make sure your getting a home with some equity in it. Again the trick is getting a price in your head that you would be willing to pay for the home and come in with your initial offer being just below that figure. I like to make it where if the seller would come down and meet you half way you would be at your target figure. Again, if the sellers wont come down to your price move on to another property. Chances are they will contact you later hoping you will come back.