Negotiation is one of the most important skills a real estate agent can possess. Being the best professional you can be and providing the best service possible is vital to achieving a happy outcome—and generating referrals—but negotiating well isn’t always easy to accomplish. So, how can you improve these skills and guarantee success? Here are seven sure-fire ways:
Remain emotionally rock solid
A real estate negotiation is just like a raging hurricane—it’s chockfull of dangerous moving parts. In this highly pressurized environment, you must be the eye at the center of the emotional storm and remain cool and calm. It takes professionalism to manage your emotions this way, but if you do then both you and your clients ultimately win. Remember—the more emotional your clients are and the more heated the situation becomes, the calmer you should be.
Provide a 360 degree perspective
As well as being calm in the eye of the storm, a good negotiator must also learn to rise above the chaos. Due to the often very stressful situation, people can lose perspective mid-negotiation. Strive to be strategic in your thinking—it indicates that you are taking the higher ground and reminds your client to take stock too. Sometimes, it can be as simple as breaking down a negotiation to show customers how a small detail they have become hung up on isn’t actually that big a deal when considering the big picture.
Keep your eye on the prize
Ultimately, the client’s prize is motive. Why are they moving? Is it to get closer to a better school or maybe because of a new job? During intense and stressful negotiations, people can get wrapped up in their emotions and forget all about their motivation. The best type of negotiator will remind clients that, yes, they may be currently experiencing hardship and stress, but they are ultimately getting where they want to go.
Allow the process to unfold
It’s an exasperating fact that the real estate process takes time. To offset frustration, you should clearly explain how it will work and always set expectations at the outset.
Stay relationally connected
The best real estate professionals don’t focus on the transaction—they focus on the relationship with their clients. If you work to consistently affirm and connect with your clients then the eventual outcome will be a far more successful one.
Constantly seek common ground
It’s normal for ups and downs and occasional disagreements to occur during a real estate process. Sometimes it can feel like a chasm separates you from your clients. To cross that chasm and build a bridge, make a list of what you do agree on—for example, timeframe or inspection dates, etc. By reconfirming and reconnecting in this way, you are helping to break down the process bit by bit and reassure the customer that everything is on track.
Always be willing to walk away
This is the single most powerful technique and strength of successful negotiation and it’s imperative, on first meeting, to educate every client about this part of the process. When emotions take over, rational thought can go out the window. Always remind your clients—and yourself—that if you negotiate from a place of cool and composed strategic thought then you are in a far stronger position.
Someone who can negotiate well is someone who can be successful and generate endless referrals. Watch a free episode of Buffini & Company’s Peak Producers® training program and start learning how to negotiate like a pro today!