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. Here’s our final four points on the Know-How’s of negotiating:
8. Know what the options are for my client. What does the landscape of your market look like? Are there many homes just like this subject property or will it be a sad day for your buyers (and you!) when they lose out?
9. Understand that negotiation means both parties come to an acceptable agreement. This isn’t an all out war! If you think you’re going to be the bullish negotiator getting the deal signed, you may want to reconsider how that will go over when the other side is fired up and ready to retaliate on the inspections! *Gasp!*
10. Understand that my job is to stay out of the way! If you have a buyer that wants to buy and a seller that wants to sell, you have a deal! Hooray! Now don’t screw it up by inserting yourself in the middle and making drama where there doesn’t need to be any.
11. Keep my ego in check. This isn’t your ‘time to shine’, contrary to how most agents act. It’s not about you, so stop practicing ‘self-agency.’
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