Practical tips for Real Estate Negotiation

2. Most Real Estate Sales people will tell you, we all learn costly lessons over the years. These lessons are very valuable, in that they help us become stronger, better realtors. But they also cost-money-in lost sales, lost listings or lost clients. This presentation offers you practical tips that may help you save time and money!

3. N EGOTIATION T IPS  Never be the first to suggest a price.  Keep the seller and buyer liking each other.  Work only in one area.  Determine who will be the last to sign.  Pace yourself: take your time.  Keep the other salespeople happy.  Stay Positive.

4. N EVER BE THE FIRST TO SUGGEST THE PRICE “Well, I think $250,000  The buyers or the sellers should always is a good place to suggest the first price. start,” says the salesperson.  Any price a salesperson suggests will tend to If the buyers were thinking they might become the client’s maximum. offer $255,000, you have just cost the  Once they have offered a price, your next sellers $5,000. job is to get them to raise it as much as possible.

5. K EEP THE B UY ER AND S ELLER L IKING E ACH O THER Remarks like “The buyer  It is essential that the seller and buyer like is really hard to work with,” each other. “They are not willing to  People will co-operate more if they like you. pay more,” “They are very tough  Salespeople pit the two-sides against one negotiators” another without realizing it. These statements create a battle ground.

6. W ORK O NLY I N O NE A REA  Clients often want to change several items in the Make sure to point purchase contract. out that too many changes in a  Some changes will be unavoidable; others may not be counter-offer quite so necessary. often scares off potential buyers.  Try to keep changes to the minimum.  Prioritize the client’s concerns.  Price is generally the most important concern. Observe that the selling salesperson has a better chance of the desired price if they compromise on less important differences.

7. D ETERMINE WHO WILL BE THE L AST TO SIGN  Many people have the tendency to be “last word people.”  If your clients are the “last word” types, it is the other side that will have to accept an offer: your clients will probably not be able to end the process themselves.  Have “last word” people come up with two or three “final” options to take to the negotiating table. In this way, you can remind them of the options they offered, while moving the counter-offer process towards its conclusion.

8. PACE Y OURSELF : TAKE Y OUR T IME  Plan your strategy for the next round in the negotiations.  Know what points you will want to make.  If concessions have to be made, decide which ones you will suggest.  Don’t wear the clients out in the very first round.  If you push too hard at first, you will have an even harder time on the second visit.  Save energy for later, when you have the client close to the agreement on price.

9. K EEP THE OTHER S ALESPEOPLE HAPPY  You need the co-operation of the listing salesperson.  Do not create a battleground.  What is most important for both of you is to get this sale through.

10. S TAY P OSITIVE  Use some positive “self talk” no matter how much you want to quit.  Have faith in yourself and work hard at staying positive: you will be amazed by what you are capable of when you have the help of a positive mind.

11. F OR MORE IN DEPTH DETAILS ON THIS TOPIC  Power of Negotiation Register for the course.  For more courses by Gabrielle Jeans; Click here: E2000 Training

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