NJ Homebuyers Among Best Price Negotiators, New Survey Says

NEW JERSEY — When buying a new house, New Jersey homebuyers are among the best negotiators when it comes to shaving some dollars off the final asking price, according to a new survey.

Real estate website Agent Advice recently surveyed 3,000 homeowners to determine how much they managed to whittle off the final sale price of their most recent property purchase. The results showed some states are home to better negotiators than others.

According to the survey, New Jersey homebuyers managed to wrangle an average discount of $19,634, or a 3.9 percent negotiation off the state’s average home price of $503,432.

The only state with better negotiators was Alabama, where homebuyers shaved an average 4.3 percent of the final sale price.

At the other end of the spectrum was Arizona, where homeowners only managed to negotiate an average reduction of just 2.7 percent, or $11,520 in savings.

The survey also revealed the secrets behind the savings. The condition of the property was the most significant factor with 30 percent of respondents citing it as the primary reason for successful negotiation.

Properties requiring repairs or upgrades also gave buyers leverage to request price reductions. Market conditions also played a crucial role with 23 percent of buyers noting that whether it was a buyer’s or seller’s market heavily influenced their ability to negotiate.

Meanwhile, 20 percent of survey respondents attributed their success to their personal negotiation skills.

See the full survey online.