Negotiating Tips
I am about to put an offer in on a building in NJ and I am looking for any negotiating tips or tactics you guys might have.  
[{"id": "dap7xfz", "text": "Don't low ball if you want them to take you seriously. Are you working with outside representation? If not, I highly suggest you look into it. The knowledge brokers bring to the table is invaluable in these types of transactions. ", "replies": [{"id": "dap9cui", "text": "I have an agent who contacted the listing agent and is representing me. My agent is an older gentleman and I want to make sure he isn't missing anything.  Is there a typical discount percentage to offer? Like offer $900,000 on a million dollar asking price?", "replies": [{"id": "dav0wts", "text": "As someone representing a couple listings, I fight to keep their offers within 90% of the original offer, .90 cents to the dollar. So long as the property deserves it, and the new owner will be getting more benefit that isn't reflected in the sales price. Helps if it's a tight market", "replies": [], "depth": 3}], "depth": 2}, {"id": "dapj0sx", "text": "I don't like this answer, for the simple fact of not knowing what a low ball offer is on a particular property.  I see so many commercial properties listed at such ridiculous prices, that almost every offer I put in looks low ball but in reality it is competitive.", "replies": [], "depth": 2}], "depth": 1}, {"id": "dap97t2", "text": "Price is not always the most important part of a transaction. If you can close quickly, give a large deposit, or give some surety of closing after a short DD period, seller will look more favorably on your offer than a full price offer with no guarantee of closing. \n\nIf you have financing lined up, tell the seller. If not, go get it. ", "replies": [{"id": "dap9s59", "text": "I don't know if telling the seller that the sale is not contingent upon a mortgage shows the seller that it can be a quick sale or that they can hold closer to their asking price because i have the money. ", "replies": [{"id": "dapeeiq", "text": "Sale not contingent on financing is good to mention, and if you can close by end of the year, occasionally that could fit well with something the seller has going on, so would be beneficial to offer as well. ", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "dar0e83", "text": "I've found you typically have 2 types of people.\n\n1. People that know the value of their property and are ready to sell.  These people you can do business with and their property likely won't stay on the market all that long.\n\n2. People that think their property is worth a fortune and won't sell until they get their price.  Logic and reason do not appeal to these people.  They'll pay $20k a year in taxes for 3 years before they reduce their price $30k.\n\nSo I'd say figure out what type of person they are.", "replies": [{"id": "daryb92", "text": "Thanks for the advice.  I have absolutely run into the second type of person.  ", "replies": [{"id": "das7qx9", "text": "If that's the case, it's up to the brokers to sit down and try to get the deal done.  They don't make money unless the deal goes through so often they're the difference maker.", "replies": [], "depth": 3}, {"id": "datzt6z", "text": "over and over and over again.  especially in multifamily.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}]