Real Estate Negotiation – 2 Costly Myths Debunked by Industry Expert

One of the most overlooked aspects of skyrocketing your profits when you buy or sell a piece of real estate is hard-hitting negotiation. Your TV is overrun with the latest “Fix your house” television shows. Don’t get me wrong, fixing your home does have its place, but high-powered negotiation strategies will ad thousands of dollars of profits, without you needing to lift a finger.

In this article I am going am going to debunk two of the most costly myths about real estate negotiation. Just knowing a few of my easy tips about negotiation can easily add 1-5% of your homes sales price to your profit. That means on a $100,000 home, using a few simple tips can make you between $1,000-$5,000.

Myth #1 Create a win-win negotiation whenever possible- Can we get real a minute? If someone else wins, then you lose, it is as simple as that. In completing over 130 real estate transactions my goal has never been to create a win-win situation. Instead, my goal is always to create a situation where I win and the other person “Thinks” they have won.

Myth #2 Negotiation starts after offer is written- If you want to lose at least $1,000 on your next real estate transaction, then wait until after an offer is written to lay out your negotiation plan. Masterful negotiation starts the moment you make contact with a buyer or seller. Seeds of negotiation strategy planted early in the process, grow into trees of profit down the road.

Trust me using just a couple of these fool proof negotiation strategies will make your next real estate negotiation seem like showing up to a knife fight using an M-60.

What Are The Different Factors That Affect The Personal Loan Interest Rates

They are multi-purpose loans, and the process of repayment is swift. It is an unsecured loan, which means you need not keep any collateral or security.

They are famous for covering unexpected expenses. However, since there is no security requirement, the interest rates are higher than secured loans such as home and vehicle loans. As a result, before applying for a Personal Loan, you should be aware of the different factors influencing its interest rates.

Income

If you show your financial stability, you get better interest rates on a Personal Loan. The less likely you fail to repay the loan, the higher your income. The loan provider considers you reliable if your income is higher.

Credit history

Any default on your existing loans gets reported to the credit bureau by the lender. Every timely payment, on the other hand, impacts the credit report beneficially. Your credit history remains good if you are consistent with your payments. This way, your benefit from a cheaper Personal Loan rate of interest.

Employer’s reputation

When you work for a reputable company, you are considered a safe employee with a stable job and a stronger ability to repay the obligations. The loan interest rates lower if your employer has a good reputation and is stable.

Employment nature

Your job type has a massive impact on the Personal Loan rate of interest. The rates for salaried employees and self-employed business owners are vastly different.

Debt-to-income ratio

If you already have many outstanding loans and credit cards, the Equated Monthly Instalments (EMIs) you pay to settle these debts consumes a significant percentage of your income. You get classified as a high-risk individual in such circumstances. It affects not only the interest rate you pay but also your Personal Loan eligibility.

Relationship with the lender

Existing Savings Accounts, Credit Cards, other loan accounts, Fixed Deposits, and other forms of loyalty to lenders increases your chances of receiving more bonuses and incentives. Use this existing relationship to persuade the lending firm not to lose you to a competitor. When you apply Personal Loans, it assists you to get competitive interest rates.

Presentation – Preparation, Or Panic?

“I never prepare for presentations, I just wing it.” I often hear this said about presentations and I’m not entirely sure I believe this statement. At least, not about successful presentations.

As for those who are clearly flailing, then perhaps all preparation has been forgotten in favour of nerves. But only the supremely confident will make the statement above, and even then there must have been some elements of preparation, if only being sure that prior experience combined with good industry and audience knowledge are enough.

How do you prepare?

Do you panic?

Do you rehash your last presentation? What if it didn’t work the last time? Is it simply a case of fingers crossed and hope for the best?

Do you write some PowerPoint slides around your subject and then plan out what you’ll say afterwards?

These methods are a bit like playing Pin the Tail on the Donkey. You might hit the spot, but you might not. Your audience will certainly let you know that you haven’t if you fail to prepare properly. It’s also unfair to lead them on a mystery tour if you’re rambling through PowerPoint slides with no clear path.

The key to preparation is to know beforehand what you want to achieve from your presentation.

What do you want your final outcome to be? More signups to courses? Knowledge transfer? Whatever this goal is, write it in big letters, stick it on a wall where you can easily see it and ensure every aspect of your presentation can be justified by that goal. Just as all projects need a business case, so do your presentations.

You also need to be able to gauge your success criteria for your presentation and this also requires preparation. Do you want quantifiable or qualified results? How will you measure your success? Can you relate it all to your desired results easily?

If you prepare carefully for a presentation and think carefully about the results you want to achieve with the audience you have then your presentation should be successful and fun. If you simply wing it; then prepare for your credibility to fly out of the window…