Much is being said in the media about the sharp downturn of the Sydney and Melbourne property markets, with doom and gloom having a field day when it comes to housing price forecasts. But remember that it really depends on which market you are looking at. Your perspective will change dramatically depending on whether you are a buyer, seller or investor.
While the current markets may mean that fewer of us are buying or selling houses, there is a definite upside to the situation. For anyone thinking of doing works on their home, whether distinct areas such as bathrooms, laundries and kitchens, or larger extension works building out or up, access to trades and builders has significantly improved.
Prices tend to inflate when trade professionals have the upper hand in what jobs they want to take on at what price. As the consumer you lose, because of a much weaker bargaining position, but now the balance of power is shifting as builders and trades face increased competition when it comes to winning work. As the consumer,you now have more scope than ever before to negotiate on price and set terms to suit you.
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So, remember the 7 key principles to negotiation:
1. Be prepared and do your homework.
2. Pick the time and place.
3. Take the time to listen.
4. Acknowledge objections.
5. Do not make it personal.
6. Keep it professional and courteous.
7. Be prepared to walk away!
Happy negotiating and happy reading!