Real Estate Negotiation – It is an art form!August 19, 2008
Negotiation truly is an art form…you don’t have to be skilled at negotiating when you first enter the real estate business. You can learn how to successfully negotiate deals, but it takes hard work and practice to become really good at negotiation.
The truly skilled negotiator goes into the process with the goal of a positive outcome for all parties involved. Skilled negotiators are many things but most importantly, they are good listeners. There is a subtle rule in real estate that goes “He [or she] who talks the least…wins.” This is really true. When you listen you are able to ascertain what you need to do to get your contract accepted.
- Top negotiators have a number of things in common. First, they are confident. If anyone senses a weakness, they will attack. So go in confident that you will come to a successful resolution.
- A successful negotiator is prepared and identifies key issues quickly. He or she seeks to be pro-active and resolve disputes before they become problems. Successful negotiators are creative, patient and keep an open mind.
- But above all, successful negotiators look for the common ground in any situation. Every problem has a solution and it helps to prioritize the needs and wants of your client. Be a competent AND confident negotiator.
- Finally, don’t have a “take it or leave it” mentality. Don’t walk away from a deal without first trying to come to a compromise. Be aware that an offer is a starting point and with proper negotiations everyone comes out a winner!
Real estate is really a game of numbers, patience,
compromise, persistence and communication. A good negotiator
becomes a master of all of these skills!