Negotiation is an essential skill in the real estate industry. Real estate agents are trained to be top negotiators in their field to ensure that their clients are receiving the best deal when signing on the dotted line to buy or sell a home.
Here are four secrets every top negotiator should know.
4 Secrets to the Negotiating Like a Boss:
Start negotiations by identifying and prioritizing your clients’ own personal goals while trying to learn the needs and wants of the other party.
Creative negotiators prepare strategies with several outcomes. A top negotiator will plan to move in another direction to reach the most important end goal if necessary. Here’s the mentality for developing several options: “If we do this, then they will do this or that. We can then go in this direction…”
The written list obligates the negotiator to account for all facts and allows the client to more effectively evaluate their agent’s performance after the fact.
Real estate agents should explain the realities of the transaction, encouraging their clients to realistically determine their options. Agents should present options and explain the consequences of each, but agents should never make decisions for their clients. The client should be advised, but in the end, the client will decide what is best suited for his or her needs.
Top negotiation skills are provided by Marie S Spodek (www.mariespodek.com), who is a popular national instructor who teaches the Certified Negotiation Expert (CNE) and Certified Buyer Representative (CBR) classes at the Real Estate Board of New York (REBNY).