The Dubai property market is teeming with opportunities. Whether you are a seasoned investor or a first-time homebuyer, you can find a property of your choice. And since the market is still in the recovery phase, prices are on the rise; thus, you can expect to earn a handsome ROI on your property if you plan to sell in a few years from now.

Having said that, there’s a lot to consider when buying a property in Dubai. Particularly, if you’re a first-time homebuyer, you need to be very diligent, well-researched and careful. Also, you should have sound negotiation skills. And for this, we have got you covered. In this article, we have discussed negotiation secrets used by smart home buyers to buy properties in Dubai. Take a look at them:

Negotiation Secrets for Smart Home Buyers

1.  Negotiate in Person

Modern technology has made things easier for property buyers and sellers. Buyers can now take e-tours and know about the property’s configuration and other details online. As a matter of fact, the Dubai government now allows buyers to complete a transaction even if they are not present in the emirate, as digital signatures hold the same weight as handwritten ones, according to recently introduced new UAE laws.

As for price negotiation, you can talk to the seller online or on the phone. However, it wouldn’t have the same impact as a face-to-face conversation. This is why it is always recommended to negotiate in person. You will be able to see and interpret the body language of the seller. This will help to negotiate better terms.

2.  Keep a Margin

Don’t give your best price upfront. Always make a point to keep a margin when negotiating with the seller or their representative. This is one of the most important negotiation secrets every buyer must know.

When you give your best price right off the bat, you leave no margin to bargain. So, quote an amount lower than your set budget, and then gradually increase the price towards your original budget. Bear in mind that the sellers, too, quote a higher amount than the original property value. Therefore, you need to be very tactful when negotiating.

3.  Be Attentive

Next in the list of top negotiation secrets is to be very attentive when negotiating terms. Try to read the body language of the buyer. Its benefits are already discussed above.

Other than that, be attentive when visiting the property. Don’t hesitate in asking any questions that may come to your mind when inspecting the property. Also, if any part of the property needs repairs and overhauling, bring it to the seller’s notice if they hadn’t mentioned it already to you.

You can use it to your advantage by negotiating the terms with them. Similarly, if they had promised certain amenities and facilities, which are not part of the property, make sure to raise your concern. This, too, can be used to negotiate better terms with them.

4.  Do a Lot of Research

It may sound clichéd, but it’s super effective. You can never go wrong by doing extensive research. This is one of those ‘negotiation secrets’ that everyone knows about. Still, they falter in this regard.

Start your research with the current market value of properties in the community. Pay close attention to properties that are similar in terms of configuration and type. For example, if it’s a villa you intend to buy in a particular neighbourhood, do some research on housing units sold in the last couple of months in the same area and their selling prices.

This will help you to get an idea about the prevalent price trends. Therefore, you can set your budget accordingly and negotiate fair terms.

5.  Know about Seller’s Negotiation Secrets

As stated above, sellers also tend to set higher prices as they know buyers are going to negotiate terms with them. This is one of the many negotiation secrets and tactics they use. However, by being aware of such negotiation secrets used by sellers, you can remain one step ahead of them.

6.  Don’t Show Desperation

Most property sellers or their representatives who have been in the market for a long time can sense when the buyer is desperate. For example, you have found the perfect apartment for sale in Dubai Marina that meets your requirements in every way possible. If you have communicated the same to its seller, it’s highly likely they will sense your desperation to buy the said property and take advantage by pushing you below the bottom line.

The right approach is to be assertive and polite at the same time. In case the seller doesn’t budge from their asking price, call off negotiations in a polite way. You will find many other properties that fulfil your criteria. You just have to choose the right property portal, i.e. Zoom Property, and you will have plenty of options at your disposal.

Final Thoughts

In all, property negotiation is a serious business. But when you’re armed with sound knowledge and negotiation secrets, your chances to get the best deal increases up to a great extent. And we hope that these negotiation secrets will help you become a smart home buyer and you will be able to make an informed decision.

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