By Gabrielle JeansC.E.O Webtech Dezine and E2000 Training Institute Inc.

PRACTICAL TIPS FOR NEGOTIATION

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!

NEGOTIATION 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.

NEVER BE THE FIRST TO SUGGEST THE PRICE

The buyers or the sellers should always suggest the first price.

Any price a salesperson suggests will tend to become the client’s maximum.

Once they have offered a price, your next job is to get them to raise it as much as possible.

“Well, I think $250,000

is a good place to

start,” says the

salesperson.

If the buyers were

thinking they might

offer $255,000, you

have just cost the

sellers $5,000.

KEEP THE BUYER AND SELLER L IKING EACH OTHER

It is essential that the seller and buyer like each other.

People will co-operate more if they like you.

Salespeople pit the two-sides against one another without realizing it.

Remarks like “The buyer

is really hard to work

with,”

“They are not willing to

pay more,”

“They are very tough

negotiators”

These statements create

a battle ground.

WORK ONLY IN ONE AREA

Clients often want to change several items in the purchase contract.

Some changes will be unavoidable; others may not be so necessary.

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.

Make sure to point

out that too many

changes in a

counter-offer quite

often scares off

potential buyers.

DETERMINE WHO WILL BE THE LAST 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.

PACE YOURSELF : TAKE YOUR 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.

KEEP THE OTHER SALESPEOPLE 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.

STAY POSITIVE

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.

FOR 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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