HOW TO NEGOTIATE

In order to make any deal successful, one must possess strong negotiation skills, Most buyers and sellers wonder why getting a real estate agent when we could make a deal by ourselves, well these uncertain people then fail in dealing according to their preference and often face major losses. The liberty that a real estate agent provides to the client is the power of negotiation and skills within it. Instead of facing the fears of the falling through and buckling the deal, a real estate agent is to the one who takes the responsibility of returning profit. What makes real estate agents professionals is their ability to close a deal from a first conversation with the other party — our ability to find an agreement on the terms and create a happy client the day after closing.

So if you are  real estate agent, my friend you need some serious skills and must remember not to narrow negotiations down to one issue ( the price ) because the will allow for one winner versus one looser versus both winning. Apart from this major point some major things to remember are always establish criteria by asking enough questions to uncover the primary objective and goals of the buyers and sellers. Included in this criteria are financial needs, potential future relocation, cash needed to close, closing date, home warranty needs, persons living in the home, kids, animals, physical additions needed to the property, potential rent-back needs and more.

Now you must remember that in order to convince the clients and negotiate in the best possible ways you are fully ready and convinced within yourself. One must not go with the same attitude in every single meeting because every negotiation is different, every deal is different, the money involved in every deal is different and most importantly the person is different. There will come times when the clients are really hard to satisfy or really easy to handle. You must be prepared and ready for all circumstances.

“There is no art in negotiation, there is only craft within it”

Ryan Serhant

In order to be a better negotiator one must be confident and confident comes from experience. Then experience comes from practice because no matter what you are selling, you are selling it to two people a buyer and a seller. Therefor remember in every negotiation you get price, pressure and persistence, the 3 important P’s.

In order to understand it you can take the example of IPhone,

How you ever thought about what an IPhone cost to make? Now you will never negotiate the price of an IPhone no matter how high it is because there is too strong demand but let’s say there was no strong demand. Then you can negotiate or maybe find a retailer who will sell you at a cheaper rate because it doesn’t cost nearly as much to make that phone as it does for you to buy

Must remind each side that you are gaining benefits even from the smallest of the deals

Further just let time saturate the emotions of the deal. Use repetition, keeping reminding the client that not taking this deal with cause you lost of a lot of money, use the pressure key to keep reminding them that there is no better deal available.

Every seller has the fear of missing out. Every seller fears they will not get their price that they are looking for because maybe the market could change. Every buyer has fear of losing the deal that they will miss the best deal, best opportunity. Try to find a price in the middle where both sides could say “I came to this number because that’s the maximum or the minimum I am willing to go to for making this deal done

Towards the end, one must remember one simple thing, just keep working hard and smart and outnumber your competition by just giving some extra hours.