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What do Brexit negotiations and property deals have in common ?


Wed 11 Oct 2017

 what do brexit negotiations and property deals have in common?

 

So we’re heading out of the EU.

And President Trump is promising to tear up trade deals.

We live in uncertain times but one thing is guaranteed – the next few years will see our Government’s representatives having to negotiate like never before with the EU and USA and all of the other countries we’re looking to strike deals with.

There’s going to be a LOT of meetings and a LOT of talking.

Having spent over 45 years negotiating property sales, here are some tips I’d share with Theresa May’s negotiation team. The principles also apply to buying or selling a property.

Be diplomatic – You’re acting with our nation’s interests at heart – try not to do anything to peeve the other side off.  – A tip for anyone buying or selling a property would be for buyers: Never criticise a property you’re interested in making an offer on – this will instantly put the seller in a defensive mode.

Be prepared – Do your homework and back up your claims with evidence and comparables. Have your stats ready. For sellers this means have your paperwork in order – insurances, guarantees and warranties and anything else that a buyer might reasonably ask to see.

Be pragmatic – Identify the other side’s needs which will put you in a better position to negotiate more skilfully. In any deal, whether it’s political or to do with property, there’s always a little give and take. Be realistic and have a clear idea of what you want to achieve – this could be an ideal price, period from exchange of contracts to completion or something else.

We’ve handled hundreds of negotiations over the years and the three points above come in really useful.

Thanks for reading and if you have any property related questions please don’t hesitate to get in touch with us – we’d love to help you.

 

Ravi Seth

Managing Director

 

Want to get a SOLD or LET sign outside your property quicker?  Email me directly at ravi@seths.co.uk or call 0116 266 9977 for honest, expert and friendly advice.

 

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