Phil Spencer’s negotiating house price tips to land your dream house
We’ve lost count of the number of times that we’ve watched Phil Spencer and a nervous couple sit around a pub table waiting for the estate agent to call and confirm their offer. So I think it is fair to say that the Location, Location, Location presenter has a few negotiating house price tips up his sleeve.
Related: Phil Spencer says you should ALWAYS do this when viewing a house
But out of the negotiating house price tips that Phil Spencer shared on his Move IQ podcast, his top tip might surprise you, as it takes place long before that phone call with the estate agent outside the pub.
Phil Spencer top negotiating house price tips
According to Phil Spencer, the negotiating process begins as soon as you go to the house viewing. ‘People assume that the negotiations begin when you ring up the estate agent and say this is what I’m willing to offer for the house. In fact, the sales agent has been sizing you up from the very moment that he met you,’ he explains on the podcast.
‘As you walk around the house he’ll be watching body language, conversations between you and your partner. They’re trained to do the job, they’re trained to sell the house for the most money possible,’ he add.
So what does this mean for you the buyer? Phil’s top tip for keeping the upper hand in negotiations is that no matter how much you like the house never say that you like it, or worse, say that you love it to the estate agent.
‘Be honest if you like the house,’ Phil clarifies. ‘Don’t say you love the house, that you’ll do anything it takes to buy it.’ If you are about to come into some money that is another thing you should keep up your sleeve when speaking to east agents the property guru stresses.
When it comes to the next stage of negotiations and discussing things with the estate agent after the viewing, to avoid any miscommunication, always get things in writing. The presenter explains that while estate agents might be reluctant to do this, it will always be in your interest to have a paper trail.
‘Agents love to do business on the phone. You’re getting a coffee or in the middle of lunch and they’re trying to engage you in a conversation. They don’t write down the notes of the conversation and neither do you,’ he explains. ‘It is a serious business transaction, treat it as such, get it in writing!’
Related: Phil Spencer’s Triangle approach to finding a house is absolute genius
So when you’re next embarking on a house hunt, remember to keep the admiring ‘oohs’ and ‘aahs’ over the hallway or garden to a minimum or risk paying through the nose for your dream home.