32 Be flexible and realistic

If you have been negotiating more aggressively than you need to, don’t suddenly get greedy and renege or stall. You also don’t want to take a first counter-offer; rather, present another opportunity to the other party that’s closer to their response. Timing is of the essence and more important than screwing another $5 out of someone. If you get too greedy, you might lose the deal.

31 Keep information at hand

Having all the facts and figures from your research at hand during negotiation is key to being proactive and authorative in your approach. It also gives you more confidence to call the shots.

30 Rigorous pre-planning

Identify your desired outcome(s) and prepare your arguments before you walk through the door to negotiations. Then maintain confidence in your pre-planning: ask for what you want and be assertive about your expectations. If you don’t ask for a certain price, term or inclusion, you’re not even trying.

29 The art of listening

Negotiation isn’t about telling; it’s about listening well. Not listening is a sign of disrespect, and listening carefully gives you little clues that provide an insight into the other person. If you have poor listening skills, ultimately you will also have poor negotiation skills.

28 Leave your ego at the door

Always leave your ego as well as your emotions out of the equation. The better a negotiator you are, the less emotion you will show. Using humour is a great way of disarming the other party. It also hides what you are really thinking.

27 Build a relationship

Try to build a good relationship with the selling agent. Always pay attention to details (like first names) when it comes to agents, and personalise any communication.

26 Seek professional assistance

If you are at your wits end and/or finding it hard to stay emotionally uninvolved, then engage a licensed buyer’s agent to work for you. Their role is to take away the stress and frustration that comes with buying property, and to get you a result. They also help level the playing field against professional selling agents who are experienced negotiators.
Information is key
In essence, negotiation is all about research and rapport, B Invested Group co-founder Nathan Birch says. Along with avoiding emotion and remaining humble, he recommends the following tactics.

25 There is always more property

Should you miss out on buying a property, remember that there is always more property coming onto the market. So you never have to negotiate from a position of desperation. That leads to mistakes that can cost buyers tens of thousands of dollars.

24 Include clauses in your favour in a contract

Give a copy of any contract to your conveyancer to review and suggest any changes that you should negotiate into an offer or pre-auction. When negotiating via private treaty, include clauses in your favour (eg subject to finance; ability to access the property before settlement to obtain quotes for building works).

23 Timing your offer

Always consider the timing of your offer when it comes to private treaty negotiations. Time pressure can be a powerful tool. You might want to time-stamp an offer. This lets the vendor know they need to make a decision within that timeframe or risk losing the offer altogether. However, it is a risky tactic as a) you are showing your hand, and b) if there is a high level of interest in the property the vendor may not care if the time lapses.