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Thursday, November 4, 2010

Negotiating Tips

The Book on First Buyers

The first buyer is the best Buyer.

--Real estate lore

The first offer from the first Buyer is seldom their best offer.

--Corollary; Graham Smith, Edina Realty

I heard the second observation at a seminar led by Edina Realty's Graham Smith yesterday.

From experience, I can endorse both sentiments, with two caveats: 1) first Buyers who overreach or (otherwise) dawdle can actually grease the skids for Buyer #2; and 2) knowing how much a Buyer is likely to sweeten their offer depends on a number of variables, starting with market conditions.

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