Strategies to use when buying

Shoppers like choice, and that's also true when it comes to home buying. There are plenty of housing options available in the current real estate market, which is attracting buyers and investors looking to get more for their money. This means individuals on both sides will have to be prepared to handle multiple offers. Whichever side of the table you sit on, pre-plan with a few simple strategies.

Let your Realtor do the talking. A real estate agent is your best bet to lead the buying and selling negotiations. Realtors are trained in negotiating real estate transactions specifically and know the legal demands of the transaction to make sure your best interests are satisfied.

Look for the "win-win." Of course, this is the goal of negotiations, but it may come in different forms, depending on the situation. For instance, if the seller is in a rush to move and you would like to keep some appliances or furnishings, you can negotiate to purchase the home along with the furniture. It saves the seller time and effort during their move.

Identify your parameters. "Decide in advance where you can budge," said Jim McEneaney, senior regional vice president of Coldwell Banker Residential Brokerage. "The most common points where flexibility becomes an issue are the price, timing of the move and any repairs." Talk to your Realtor and prioritize what is most important to you.

Know when to walk away, know when to run. Remember that there are other homes from which to choose. If the other side is unwilling to negotiate and your needs are not met, head for the door.