{"id":9060,"date":"2023-01-24T08:00:59","date_gmt":"2023-01-24T00:00:59","guid":{"rendered":"https:\/\/www.99.co\/blog\/singapore\/?p=9060"},"modified":"2024-10-23T12:13:01","modified_gmt":"2024-10-23T04:13:01","slug":"7-things-negotiating-property-prices","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/7-things-negotiating-property-prices\/","title":{"rendered":"7 things to say when negotiating property prices"},"content":{"rendered":"
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If you’re a first-time homebuyer or seller, negotiating property prices may be a little tough.<\/p>\n

So we at 99.co<\/a> would like to introduce you to a guideline: the more awkward conversations you will have, the better a bargain your property can be. <\/i><\/p>\n

Most Singaporeans are too shy to negotiate aggressively, but a thick skin really accounts for big gains. We’ve written the words to use when you go about negotiating property prices.<\/p>\n

1. “The other units nearby are going for S$x.”<\/h2>\n

When negotiating property prices, be the first to call out a price. This is called anchoring. Whether you’re a buyer or seller, even if your price is not accepted, it allows you to set the general range. In fancy negotiating terms, this is known as setting the Zone of Possible Agreement (ZOPA)<\/a>.<\/p>\n

If you open with “Some of the other units here are selling for S$1.2 to S$1.3 million,” you are setting the ZOPA within this price range. If you allow the other<\/i> person to mention the price first, bargain within their range instead.<\/p>\n

As a buyer, if you want to bargain for much less than the surrounding prices, you can try “I’m also considering another unit nearby, that seller wants (insert number that is lower than the average).”<\/p>\n

However, check surrounding prices (you can check for recent transaction prices on 99.co) and beware of offering too low an anchor. <\/b>\"transaction<\/a><\/p>\n

Scroll down a listing on 99.co to find the transaction history in the block. If you start by mentioning a price that is too low and the seller accepts it right away, then you’ll lose the possibility of going lower.<\/p>\n

Likewise, as a seller, don’t set an asking price that’s too high, which can lead the buyer to back out of the deal.<\/p>\n