Are you negotiating wins for your clients?
November 15 2018
Real estate negotiations can be stressful for clients and agents alike, especially if those negotiations aren’t going well. When everyone is looking for the best deal possible, the only way to secure a win for all parties is to approach the sale as a conversation and ensure that everyone gets something they want.
Here are four ways you can ease the tension of negotiations to keep everyone at the table.
1. Remember that negotiation isn’t conflict.
Don’t approach the negotiation with an all-or-nothing attitude. You want to protect the interests of your client and negotiate the best deal possible, and that often means working towards a common goal to create a win-win situation for the buyer and seller.
2. State the hidden value.
It’s not always easy for buyers to recognize a fair price when they see it, especially when many aspects of a home’s value aren’t visible. But items such as a new roof, a renovated kitchen or high-efficiency HVAC systems add considerable value and should not be overlooked.
3. Know your position in the market.
When inventory is low, a buyer’s offer needs to be more aggressive to stay competitive since sellers will have more freedom when accepting an offer. If the market is sluggish, these roles will reverse. Helping clients understand the big picture can help keep negotiations from stalling.
4. Be aware of perception.
A seller who accepts a low offer without negotiation may cause the buyer to wonder why they were so eager to unload the property. Remember to clearly communicate the motivations of your client during negotiations so that no one gets the wrong idea.
If you reach an impasse, suggest revisiting the conversation at a later date. Of course, not every deal ends successfully. If it’s not in your client’s best interest, you have to respectfully say no and walk away.
Interested in learning more ways to negotiate wins for your clients? Reach out today.