To be successful in business in general, and in real estate specifically, you must continually refine your negotiation skills. Negotiation, just like marketing is a skill that we are born with and many real estate professionals simply do not realize how much they negotiate every day. Real estate agents negotiate with their broker, with their clients, with other agents, with third party providers, and on behalf of their clients.
Important thing to know during/before a negotiation include:
PREVENT YOUR CLIENT EXPRESSING A RIGID ATTITUDE
There’s an old saying, ‘everything is negotiable’, which also applies in the real estate world. The best negotiators always ‘leave a little in the pot’. They don’t give away concessions too easily. Always leave room for movement, even a little. Be flexible and realise there’s always more than one way to get your result. Try to be in the client’s mind and get to know your client well enough to anticipate his reactions and behaviours. Remember the ‘win-win’ principle — this leaves both parties feeling happy.
A POSITIVE, CONFIDENT ATTITUDE
Your own attitude will determine how successful your negotiations will be. Keep a positive picture in your mind always. It is said that you attract the outcome that is in your mind — so make sure that your thoughts are positive! Expect success and you are on the way to achieve it.
NO MATTER WHAT HAPPENS, DON’T REACT PERSONALLY
Remain objective and don’t become defensive. Instead work to understand the underlying problem. You must avoid inflaming the situation with aggressive responses of your own. This is the time to listen and stay firm but emotionally steady and intelligent
Active listening: The listener confirms their understanding of the speaker’s messages by asking questions and paraphrasing his or her words. Never underestimate the power of silence
Excellent communication skills: Both receiving and sending messages
Skilled at recognizing the parties’ motivations and evaluating their position
Consistent aptitude for dealing with objections and maintaining perspective
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