Real Estate negotiations – business or personal?
Negotiating the sell or purchase of Spring Texas real estate is vastly different than other business negotiations. Yes, there are some similarities between real estate and business negotiations. They both involve a contract and require give and take between people or corporations. But that’s where the similarity ends between real estate and business negotiations.
Business negotiations are just that business. It’s nothing personal just business. Real estate negotiations are almost the exact opposite. Yes, it’s still business but there is an awful lot of personal involved.
In business negotiations, unless you have ownership in the company, it is not your money involved in the transaction. In real estate negotiations, it is your money and the fact that it is YOUR money changes everything. The sales price, the cost of the repairs, and the closing costs all directly impact your personal finances.
In business negotiations, you may be negotiating a price for 1,000 whatchamacallits. If the manufacturer doesn’t have 1,000 whatchamacallits on hand, he will produce additional ones and all of the whatchamacallits will be exactly alike. In real estate negotiations, you are negotiating for a one of a kind product. Sure, there are other Spring Texas houses with the same floor plan. They may even be in the same subdivision and have similar amenities. But there is no other house with the same floor plan, the same amenities, in the same subdivision, and in the exact same location as the house you are wanting to purchase.
In business negotiations, the parties to the transaction have no personal attachment to the product. It is only a product. In real estate negotiations, the house is much more than a product to the sellers. The house holds memories of fun cookouts with friends, it is where their child took his first steps, and where holiday gatherings with family were held.
In business negotiations, logic will usually win out. The parties negotiate the terms and a deal will be struck. In real estate negotiations, egos and personal feelings can cause negotiations to break down and prevent buyers and sellers from negotiating a deal.
The first step in real estate negotiations is to recognized and understand that there are differences between business negotiations and real estate negotiations. The next step is to remain logical and stay calm. Just remember it is not necessary for you to like who’s buying your Spring Texas house. You should only care that someone is BUYING your house.