I usually do my best not to negotiate verbal offers but from time to time I do. As long as my client, the seller or buyer, is OK with negotiating a verbal offer, am ok.
And this is how I go about it:
First, I do not negotiate all the terms in the contract. Negotiating many terms can complicate things. It can become a case of “he said, she said” and we want to avoid that.
Second, I only negotiate the most important terms such as price, closing date, etc. Keeping it simple and to the point.
Finally, once we do have an agreement verbally, I emphasize to the other party that since it’s verbal, all is fair game. Meaning, if someone else approaches me with an offer in writing, I can take it.
Long story short, until I have the verbal agreement in writing, everything is fair game.
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