Get The Best Buy for your Money!
Get Involved...
First of all, anything that you want, always get involved! Buying real estate is not a joke, If you’re in United States it will cost you Hundred Thousand Dollars more or less. In the Philippines, if you belong to the average income category, it will cost you a Million pesos or more. Anyway, it’s not on the price at all, whether or not you belong to the lower category or upper category, it doesn’t matter.
The point that i’m trying to drive at here is the art of getting bigger discount or even more than a discount!
Let’s tackle first the How to get Involved? If there’s a place where you want to buy a House, Do the research first. Remember, Information is Power! Gather all the information that is needed, but the very important is you should know the prices of several units within the vicinity. Let’s say Price of a two bedroom unit with one toilet and bath, two bedroom unit with two toilet and bath, or a three bedroom unit with two toilet and bath etc. If you have those information regarding the pricing of those units with you, It is a good weapon for you in the negotiation!
For example, you walked in to a Real Estate Broker’s office inquiring about house and lot unit, They presented to you a unit w/c you like. The price of the unit is $300,000.00, The price is not negotiable. There’s no discounts being offered! But you like the unit! And you’re ready to buy the unit, The broker/Agent can now feel that you’re really a qualified buyer. You try to ask for a discount but the broker or the Agent is firm that there is no discount being offered by the seller.
If the price that you have researched with in the vicinity is much lower than the one they are selling, However the unit that they are selling is the one you like, Then you can show this a comparison. There is a big probability that the seller will give you the discount you want.
Assuming that the seller gives you a discount, and you buy that unit, the deal is closed. There is still another avenue for you to make or earn an income from your Broker or Agent. Before you leave the office of the Broker/Agent, make sure and don't forget to negotiate for a referral fee. If they can offer you 1.0% referral fee, then it would be good to both parties.
On your side as the buyer, it can be an additional source of income for you. This turn now into a business rather than being limited to the discount only. on your side as the buyer, This is a new opportunity for you for another source of income. On the other hand, The Broker or the agent can benefit also because they were able to recruit a sub-agent or shall we call it a bird dog. It became now a win win situation to both parties.
My personal advice to all buyers, You have friends whom you can refer it to your Broker so you now have another source of income. You can use this approach so as to benefit both parties.
I hope this opens your mind for your future negotiations.
Thank you for your time,
Peter E. Cadorna
