Do your knees knock at the thought of sitting at the negotiating table? Most people think of an all out confrontation when they think about negotiating, but that’s simply not the case! You can be powerful without being a pit bull. So, when there’s money on the table and the future of your clients deal is hanging in the balance, how can you keep your cool? We have some simple strategies that will help reframe your thinking about this sometimes difficult skill and will keep you calm and in control of the situation every time.
Let’s remember some wise words from a few that have gone before us in this arena:
“Let us never negotiate out of fear. But let us never fear to negotiate.” – John F. Kennedy
“He who has learned to disagree without being disagreeable has discovered the most valuable secret of a diplomat.” – Robert Estabrook.
What many agents don’t consider about negotiation is that it begins with what you know, the information you have and how to use that information to help direct your buyers or sellers to an agreement. So, much of your negotiation skill will rest on how informed YOU are as their representation.
Our first two points are tied together in many ways and we wouldn’t even think of beginning a negotiation without knowing the answers first!
- Know my client’s motivation. Unmotivated clients are script-proof, so you can talk until the cows come home and they aren’t going to budge one bit! But if you know what makes them tick in this transaction, there will be no obstacle to what you can accomplish!
- Know my client’s time frame. When you really drill down on this question, they will usually tell you. It’s often tied to things like change of seasons, school year, holidays, or some other big life event.
We have a few more points to share with you today, so listen to the full episode so you can hear how to handle your next big buyer or seller negotiation, before the one who blows the deal is you!
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