There are numerous tips and tricks buyers can utilise to get the best possible price for a property, experts say
Jonathan Hopper, CEO of Garrington Property Finders, the buying agency founded by property expert Phil Spencer, said: “I recently spoke to an estate agent in Cambridge and homes are already being put on the market for 20 per cent below their peak.
“The reality is most properties have seen a fall of between 5 and 10 per cent. This is a combination of reduced asking price and negotiation.” His team of negotiators, which he says “go to battle with the sales agent to get the best price”, are getting 17 per cent more off their average asking price compared to last year.“Buyers are being ruthless and taking an aggressive stance in many cases. Prices are softening every month and this has led to buyers becoming more robust in their offers.
“Vendors are feeling a bit battered as they have already trimmed prices but are now having to do this again.”“There are many situations where buyers want the new, reduced price and sellers still want to offload their property for the same amount they were asking for last year. But offering too low could mean you are instantly alienating the sellers.”He, alongside Simon Horton, a hostage negotiation trainer, give us their top tips for buyers looking to negotiate a lower asking price.
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