I am a bad negotiator. Can you guys plz guide me about how to strike a good deal. I have heard myths that offer a price to the builder and walk out and then he will call you .. tried that .. but these days if you do this builder offer your their price and visiting card and ask you to call back when you are ready :)
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  • Lot's depend on who is in big need


    Originally Posted by CoolDude
    I am a bad negotiator. Can you guys plz guide me about how to strike a good deal. I have heard myths that offer a price to the builder and walk out and then he will call you .. tried that .. but these days if you do this builder offer your their price and visiting card and ask you to call back when you are ready :)
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  • Here's are some of the real secrets ... :)

    Originally Posted by CoolDude
    I am a bad negotiator. Can you guys plz guide me about how to strike a good deal. I have heard myths that offer a price to the builder and walk out and then he will call you .. tried that .. but these days if you do this builder offer your their price and visiting card and ask you to call back when you are ready :)



    Cooldude,

    The real secret lies in your own name. You just have to be cool about the whole deal dude!!! :D

    Seriously. Remember the following ...

    Approach each deal with the basis that if it does not completely satisfy your every feeling and instinct about it, then you will simply keep your cash in your pocket and walk away from it. Too many people get sold on the project by smart sales guys who tap your weaknesses and marry them to the ownership. This is like the sentiment drummed into every young Indian middle-class guy's head when they are young. If they don't buy a house as soon as possible, there is something deficient in them. How many times have you heard someone tell you, "still not bought a house? why,ya?"

    Be like a bania in your dealings. If the builder readily gives you 10% reduction, simply ask him ..."and?", like that reliance ad. Keep on badgering him for more and more and more all the time showing him that you are dead serious and he only needs to give you one more freebie and you are sold. You will be surprised how much you can get out of people this way, even RE sales people who are desperate to close sales these days!

    Know what is important to you and what is not. Bargain real hard on your important points. For each win on your important issue, give away something in areas that don't really bother you. You will come out as reasonable and also get your main issues in your favor. Everyone likes to deal with people who give some and take some. Just make sure you take the ones important to you! :D

    Don't get married to the project. Treat it dispassionately and be ready to walk. When the builder needs you more than you need him (at least in perception) he will bend over backwards to accomodate you).

    When he is hooked and calls you again, delay him a few times. Show you are busy, travelling a lot, have other options also which you are looking at and so on. Nothing attracts sales guys to you like a feeling of success (at least perception). These guys will keep on calling you and trying to sweeten the deal for you to bite.

    Finally, be tough and confident. After all, the money is in your pocket and he is running after you to get it into his pocket. If he acts like you should be running after him and not him after you, simply drop him and tell him that you are not impressed with his product. Many of them will turn around and act properly after that.

    enough for this post? :D

    cheers
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  • Originally Posted by CoolDude
    I am a bad negotiator. Can you guys plz guide me about how to strike a good deal. I have heard myths that offer a price to the builder and walk out and then he will call you .. tried that .. but these days if you do this builder offer your their price and visiting card and ask you to call back when you are ready :)


    Don't think builder will be ready to nego. on your first visit. On your first visit, ask builder if he is ready to negotiate if the project satisfies you. Then do couple more visits with your family. Ask all details about amenities/society formation/what if...this etc.
    After you make 3-4 visits, it gives impression to builder that you are serious buyers. (these days more than 99% visitors dont buy. So builders wants to avoid negotiations with ppl with less interests as it will reveal the actual rates )
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  • Thanks wiseman and aditi.. good points and would be helpful to many people here
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  • Lage raho dude!

    The real secret lies in your own name. You just have to be cool about the whole deal dude!!! :D

    Know what is important to you and what is not. Bargain real hard on your important points. For each win on your important issue, give away something in areas that don't really bother you. You will come out as reasonable and also get your main issues in your favor. Everyone likes to deal with people who give some and take some. Just make sure you take the ones important to you! :D


    What a piece of wise advice wiseman:D:D:D
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  • Originally Posted by CoolDude
    I am a bad negotiator. Can you guys plz guide me about how to strike a good deal. I have heard myths that offer a price to the builder and walk out and then he will call you .. tried that .. but these days if you do this builder offer your their price and visiting card and ask you to call back when you are ready :)

    1.) First of all get all the details of the builder, his previous projects etc. i.e. case history.
    2.) After making a site visit first time, don't express how keenly you liked it no matter how you fall for this project!
    3.) Discuss the basic things like water, roads, specs, etc. Then slowly ask some questions whose answers you already know. Don't contradict the builder at any stage & keep calculating the amount of lies if he has spoken. Just be a good listener.
    4.) If some builders if lie vehemently, just forget about the project. Such cases have happened with me. Eg. Felicita, Baner.
    5.) Finally, no matter what never reveal all your cards till the deal gets finalized & make sure you send out 2 signal in the dealings:-

    a.) You liked the project & can buy it RIGHT NOW if your terms are met.
    b.) In any case, I do have other options open. Thank you.

    Btw, if you ask me, personally, I appear very dumb in my first meeting, contradict the builder in second meeting & based on this sometimes builders' get scared (can't tell all the methods how to scare the builder here. OF course for that you require certain contacts dealing directly or indirectly in RE) & don't call for third meeting or accepts what you say.

    "Kisiko bhi jano pehle, milo baadmain." As Simple As That.:)
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  • Picked up some tips here :)

    Originally Posted by realacres
    1.) First of all get all the details of the builder, his previous projects etc. i.e. case history.
    2.) After making a site visit first time, don't express how keenly you liked it no matter how you fall for this project!
    3.) Discuss the basic things like water, roads, specs, etc. Then slowly ask some questions whose answers you already know. Don't contradict the builder at any stage & keep calculating the amount of lies if he has spoken. Just be a good listener.
    4.) If some builders if lie vehemently, just forget about the project. Such cases have happened with me. Eg. Felicita, Baner.
    5.) Finally, no matter what never reveal all your cards till the deal gets finalized & make sure you send out 2 signal in the dealings:-

    a.) You liked the project & can buy it RIGHT NOW if your terms are met.
    b.) In any case, I do have other options open. Thank you.

    Btw, if you ask me, personally, I appear very dumb in my first meeting, contradict the builder in second meeting & based on this sometimes builders' get scared (can't tell all the methods how to scare the builder here. OF course for that you require certain contacts dealing directly or indirectly in RE) & don't call for third meeting or accepts what you say.

    "Kisiko bhi jano pehle, milo baadmain." As Simple As That.:)


    Hi Realacres

    Picked up some good tips here! :D

    Have you ever tried acting very dumb as well as getting out all the information out of the builder (not to mention contradicting them) in the first meeting itself? ;) Tough. Try it next time for practice.

    cheers
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  • one sad part which happens most often is that the negotiations depend not only your behavior and approach but also the other customers currently negotiating. Actually this is the biggest issue in negotiations. I have seen the famous Palace project in PS with folks booking with hundred per sq ft higher rates on the same day where i got a deal. Just because I waited for another day to sign the cheque, the salesman thought he is under loss if he finalised that deal with me. And he also shared with me all the names and details booked for last 2 months.

    So the problem is that there are still buyers around who dont care to put their futures in jeopardy and book with higher rates.

    Folks who buy with these higher rates are doing two crimes - first they are putting themselves nd their families in a endangered state, and second these folks deny the ordinary mango man (aam-janata) a fair deal.
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  • Originally Posted by wiseman
    Hi Realacres

    Picked up some good tips here! :D

    Have you ever tried acting very dumb as well as getting out all the information out of the builder (not to mention contradicting them) in the first meeting itself? ;) Tough. Try it next time for practice.

    cheers

    In my first meeting, I never contradict the builder. It is more of friendly talk & I have some set of questions like:-
    What was the launch date, booking rate, specs, amenities, date of possession, water, road etc. If the basic info given is true by the builder, I proceed to next steps; if not his comments are contradicted in 2nd meeting.

    Btw, I do have my own sources in Pune RE as well as Town Planning Dept. Hence, before visiting, I make a point to get this info ready at hand just to check the authenticity of the builder based on which further nego. can be done.

    Relying on builder for vital info is as good as relying on Pak Govt. to take action against terrorists! :DVital stats are got not from the builder but from other sources who also include residents of older projects of the builder
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