Checklist for negotiating a successful property deal

While doing your market research and ensuring you’re financially prepared are both important steps when buying and selling property, it is also prudent to understand the contractual obligations of the different methods of sale, what exactly is up for negotiation and the psychology of negotiating a property transaction.

For greater insight into the world of real estate negotiations, we obtained professional property insights from Malcolm Gunning, President of the Real Estate Institute of New South Wales; Richard Harvey, property law specialist and Law Society of New South Wales representative; and Christine Bagley-Jones, Principal Psychologist at the Counselling and Wellbeing Centre Qld.

• Know the differences between negotiating a private treaty sale and an auction sale. You may be surprised by what you can achieve at auction.
• Who are you negotiating with, and what are their motivations?Assess the key players in your property transaction for a stronger result.
• The ins and outs of the sale contract. Be informed about what you can and can’t negotiate.
• Tactics and the psychology of negotiation.The way you manage a sale will determine your success.