Reference no: EM132917114

You are involved in delicate negotiations between your client (the vendor) and a buyer. Both side are strong personalities and are not inclined to hold back.

It is 5pm on a Sunday, and after some discussion that buyer has agreed to sign a contract at $642k for the property. You jump in your car and head off to see the vendor.

The vendor isn't happy with you. He tells you how disappointed he is in the offer, and that he really wanted $680k for the property. He tells you to go back to the buyer and get them up to $680k. The vendor also tells you not to bring him an offer under $680k.

Please answer the following

How would you handle this situation?

Please answer the following

You go back to the buyer, and try to secure an offer of $680k. Explain in your own words how you would go about this and what sort of strategies you would employ.

Please answer the following

Despite your best efforts, the buyer has agreed to revise their offer to $673k. It is now 10pm on Sunday night, what course of action would you take?