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Bargaining wih Real Estate Agents

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onlyCOpunk

onlyCOpunk

Platinum Member
So I'm hunting for a new apartment/house/unit whatever.

I went to a few open inspections last weekend and there was barely anyone at them.

The rental market here is down because of the recession I believe, or it's just an off time of the year to be looking.

So...I found this really nice place to rent for $770/week. We've already talked the real estate agent down to $750 over e-mail, but I'm curious if there are any other sure fire ways of getting more knocked off the price.

I am waiting for him to get back to me so I can have another look at the place, and I was thinking of taking my completed rental application with me and saying "I will rent this from you right now and sign a 12 month lease if you can do $700" If he says no, then tell him I have to take a few days to think about it and walk out.

I've never haggled with real estate as I've never been in the position of power due to a slumping market.

Anyone have any ideas?
 
Where exactly are you living where you have to sign a year long lease and still pay weekly? That's $2,800 a month, crazy money.

Haggling is tough, but have you also looked at comps in the area? What amenities the comps have compared to where you want to lease?
 
Rent is done weekly here. And yes, in the city $750/week is expensive, but it's a really nice apartment. Otherwise I'd be looking at 600-650/week. But this place is like a resort in the middle of the city. The pool is elevated above the street and has a glass side so you can swim and watch people in the street, and lord it over them.
 
Still, if I could afford that kind of money for rent, I would be looking to BUY. If it's a condo or similar type apartment setup, I would figure a mortgage would be right in the same range.
 
Originally posted by: ReggieDunlap
Still, if I could afford that kind of money for rent, I would be looking to BUY. If it's a condo or similar type apartment setup, I would figure a mortgage would be right in the same range.
Click to expand...

If rent is that cheap, what do you think the price of a home/condo in the same area is?
 
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