We’ve been buying RV parks for decades, and in that time we’ve sat across the table from hundreds of sellers. Along the way we’ve built some basic rules on negotiating in general, and on RV park negotiating in particular. Here are the five that matter most.
Think Win/Win
RV park owners are, as a group, fairly well off, and they rarely sell in distress. That means a “win/lose” strategy, where the seller feels taken advantage of, gets you nowhere. If they’re not happy, they simply walk away and keep the park. The better approach is “win/win,” where both sides feel good about the sale. To us, the heart of win/win is honesty: treat the seller the way you’d want to be treated.
Be Consultative
Sellers respond to buyers who back up what they say with facts. If you tell a seller the roads need repair and you want the price reduced, show them three contractor bids. If you’re worried about occupancy, show them the park’s own numbers, or how the other RV parks in the area are doing. Today, with online booking data and review sites, those facts are easier to find than ever, so there’s no excuse for guessing.
Have A Walk-Away Price
Before your first meeting, decide the price you will not go above. The seller should sense that you have a firm limit, and it will show in how you talk and carry yourself. Without that number set in advance, you’ll get caught up in the moment and the final price will probably blow past your budget.
Be Easy To Sell To
Many buyers shoot themselves in the foot by being hard to deal with. Give the seller VIP treatment. If you say you’ll meet at 4 PM, be there early and wait in your car. If you say you’ll call Saturday, don’t push it to Sunday because something more fun came up. The seller is watching everything you do and deciding whether you’re the kind of person they want to sell their life’s work to.
Take Time To Bond
“Bonding” is one of the most important parts of negotiating, and almost nobody talks about it. It’s the relationship where the seller actually wants to help you, sometimes even against their own interest, because they like you. That’s where seller financing, low down payments and great prices come from. The key is time, in person or on the phone. Our favorite opening question is still, “So how did you come to own this RV park? Tell me the whole story.” The answer can take hours, and that’s exactly the point.
Conclusion
These lessons came from a lot of deals, some won and some lost. Follow them and you’ll start every negotiation on the right foot.
