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Joshua

Joshua

Real estate agent,

Australia Property can often be bought for a lower price

9Mo ago 0 Replies 176 Views
Australia Property can often be bought for a lower price – if you include an extra sentence in your offer.
Including an extra sentence that compares your offer to the seller’s minimum price in a negotiation increases the likelihood of you getting what you want, finds research from ESMT Berlin.
Most people assume that you can either be friendly in a negotiation and satisfy your counterpart or get exactly what you want, but these two outcomes do not have to be mutually exclusive.
Martin Schweinsberg, Assistant Professor of Organisational Behaviour, alongside Michael Schaerer of Singapore Management University and Roderick Swaab from INSEAD, studied how negotiators can achieve both economic benefits and maintain a friendly relationship with those you’re negotiating with.

“Imagine trying to buy a house where the seller’s target price is $580,000 and their minimum price is $320,000,” says Professor Martin Schweinsberg.
“Instead of just saying “my offer for the house is $450,000”, adding the sentence of “how does this compare with the minimum price you are willing to accept?” increased the chances of the buyer’s offer being accepted, and made the counterpart happier.
“This demonstrates that how an offer is perceived is subjective depending on how the offer is framed and that it is possible for a negotiation to be nudged to have a ‘win-win’ outcome.”

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