Your gut instincts are usually right on target. Learn to trust them. Sometimes, we get that gut feeling that something can or will go wrong, and we dismiss them for whatever reason. Maybe it's because the reason we got those gut feelings is because of something totally unrelated, and we recognize that. Or, maybe the other party did something to diffuse the initial concern.
Nobody ever wants to tell you, "I told you so", and you should not ever have to feel like saying to yourself, "I should have listened to my gut and I didn't. That's what got me into this predicament"
So let's talk about those gut reactions, and gut feelings when it comes to negotiating. When you can chalk those up to past experiences when there are many of the same factors involved, it is time to listen.
This may seem out of context, but it really isn't, if you think about it. A few years ago, I went to a Realtor safety class that was given by a seasoned detective. He gave us a great presentation and went on to say that we (as Realtors) put ourselves at risk on a daily basis. He said something that resonates with me to this very day, and that not only involves personal safety, something that is smart thinking in day to day life- and I have taken that one step further to include negotiating.
What he said is that is if you have a concern, you learned that (physical and/or) emotional response from a prior event. Listen to your gut. If it says you need to be concerned, then be concerned. Period. And take an appropriate course of action.
Now what does all of this have to do with negotiating? We are not talking about safety issues, we are talking about negotiating. And that, we are...
You probably have not been involved in a large number of home negotiations, but I am assuming your real estate agent has. There are few obvious red flags to concern yourself with.
When the party on other side of the transaction displays some behavior that just doesn't seem right and it's right there from the beginning, don't expect it to get any better throughout the transaction.
If a buyer or seller is nickel and diming you from the very beginning, expect it to last right up through and including the closing. That doesn't mean that you shouldn't work with that buyer or seller, it just means that you should know what you are in for, and to be ready for it. That may mean holding back some negotiations that are inevitably bound to happen before the closing.
If a buyer or seller agrees to a contingency or modification of the offer, and then reneges, expect that to happen throughout the transaction, if it ever comes to fruition.
On the other hand, when the other party tends to be reasonable, they will most likely be reasonable throughout the transaction. So your gut isn't always telling you that there is something to be concerned about.
Your agent (that would be me) knows how to negotiate and counteract those seemingly little items that tend to pop up, and that could very well amount to much more than they initially appear. So count on your professional agent to guide you in the right direction and handle the bumps along the way.
