What the Brexit negotiations and property deals have in common

Posted on Friday, June 23, 2017

It’s a year to the day that the UK decided to leave the EU.

It’s also the week when the negotiations over our exit of the EU begin, this is looking to be a long drawn out process.

We live in uncertain times as recent political events have proven but one thing is guaranteed – the next few years will see our Government’s representatives having to negotiate like never before with the EU, and indeed all the other countries we’re looking to strike deals with.

There’s going to be a LOT of meetings and a LOT of talking.

Having spent the past 11 years negotiating property deals here are some tips I’d share with David Davis and Theresa May’s negotiation team. 

The principles also apply to buying or selling a property.

Be diplomatic – You’re acting with the UK’s best interests at heart – try not to do anything to peeve the other side off.  – A tip for anyone buying a property would be never criticise a property you’re interested in making an offer on – this will instantly put the seller in a defensive mode.

Be prepared – Do your homework and back up your claims with evidence and comparables. Have your stats ready. 

For sellers, this means have your paperwork in order – insurances, guarantees and warranties and anything else that a buyer might reasonably ask to see. 

For buyers get your mortgage offer agreed and if you have a property to sell have it on the market.

Be pragmatic – Identify the other side’s needs which will put you in a better position to negotiate more skilfully. 

In any deal, whether it’s political or to do with property, there’s always a little give and take. 

Be realistic and have a clear idea of what you want to achieve – this is usually an ideal price or a period from exchange of contracts to completion.

We’ve handled hundreds of negotiations over the years and the three points above always come in useful.

Thanks for reading and if you have any property related questions please don’t hesitate to get in touch with us – we’d love to help you.

Aaron 

PS: Want to get a SOLD or LET sign outside your property quicker? Call The Property Cloud and our team on 020 8935 5256 or email: aaron@the-property-cloud.co.ukfor honest, expert and friendly advice.