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Negotiation Skills for a Broker SAGARIKA SAHANA

• If you are a real estate broker you need to know the art of negotiation and master it. Each stage of a property transaction needs negotiation skills.

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The Art of Negotiation

Recall the buying/selling event• Phone prospecting• Arranging a meeting• Presenting a list of services• Finalising on a listing• Discussing marketing money• Arranging a marketing campaign• Qualifying buyers• Dealing with offers and counter offers• Closing a deal

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TOP 10

NEGOTIATION SKILLS THAT WORK

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Be clear about your facts

When discussions are on do not break the momentum by being unaware of relevant information. Try and find out all you can before the deal begins. You should come across as a person who ‘knows’.

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Listen more and talk less

• Ask more questions and do not assume. Each sale is different so you need to find out the full facts.

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Try and look through the haze

• Sometimes a sales is shrouded with a lot of other issues that are actually trifles. Look at the bigger picture and be clear about your role.

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Be aware of your competition

• Make your case against arguments about other properties in the market which are reputedly better than the one you are marketing. Use more benefits than features to showcase your property.

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Never be in a hurry to close

• Don’t negotiate in a hurry as this will create errors.

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Be sure to have a written agreement

• In case of real estate only the written word holds good after the discussion is over.

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Do not be in a hurry to respond

• A feedback or response should be well thought out. Client’s interest should be the focus and not your personal views.

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Give and take is the policy

• During a deal between a buyer and a seller, give and take is the policy, irrespective of whose side you are on.

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Aim high with realistic goals

• Aim high from the beginning but keep your goals realistic. Do not negotiate for something that is not worth it.

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Confidence helps

• While negotiating, be confident and show your assurance to your client through words and body language. Remember negotiating and arguing are two different things.

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Remember a successful negotiator doesn’t mean he keeps on negotiating. You have to stop negotiating at a point. So try to ask for the possible and walk out if you don’t get it. Don’t keep on negotiating.

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Daily practice will definitely hone your negotiation skills. Practice and role play with team members work to prepare you for the actual deal. Be aware of the arguments that may come up and prepare to counter them. Also be ready with alternatives.

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HAVE A HAPPY AND SUCCESSFUL SALES YEAR AHEAD! 17