How to Improve Your Real Estate Negotiating Skills

Improving Your Real Estate Negotiating Skills

As a real estate agent, you are constantly negotiating with buyers and sellers, other agents, solicitors, building inspectors, and valuers . Improving your negotiating skills will improve your success. So how do you go about improving negotiating skills? Here are some general real estate sales tips regarding negotiating that you may want to follow:

1. Learn as much as you can about the other side’s motivations.

For instance, if you are attempting to get a real estate listing, find out why the seller wants to sell. Knowing the seller’s motivations will improve your chances of getting the listing.

2. Analyze all the issues. Be knowledgeable. The more knowledgeable party usually excels. If you are in negotiations with someone who is more knowledgeable, don’t show your lack of knowledge. Ask plenty of open ended questions like, “what will you do if that does/doesn’t happen?”.

4. Show confidence. If the other party believes that you are skilled, experienced and knowledgeable, you will get better results on your listing appointments and also for your clients when negotiating on their behalf. Dress the part of success. Look successful, act successful, but don’t be obnoxious or rude.

5. Establish a rapport with the other party. You need to assess the situation to see if the other side is going to be cooperative and the only way to successfully do this is to have at least a certain level of trust as soon as you can in your relationship.

6. Have a positive attitude. Be a solution based thinker.

7. Be patient. Being pushy will often lead to the other party withdrawing from the negotiation.

8. Be a good listener. Listening is how you will discover the other persons interests. While you are talking you are not learning anything about the other party and negotiation is all about knowing your prospect so you can best help them.

9. Have a reputation for personal integrity. Always keep your word and only tell the truth even if there is no chance of being found out, because at the end of the day you will always know that you are not trustworthy and this can often come across to other people you are looking to work with. We all have a great instinct, especially women and when you live by your word, it comes across to others and helps you defeat the obstacle of early trust which is and always wil be the biggest barrier to business.

10. Be able to resolve the conflict with acceptable compromises. Always be looking for win, win outcomes. The world is a small place and your service area is even smaller, sooner or later most people will either be looking for your services again or know someone who is. Even if you have to be tough on people as long as they feel at the end of the day that the negotiation is fair, they will respect that and feel comfortable to work with you again.

11. Always be friendly and act in a professional manner. Most people love down to each straight shooters. Pretend every prospect is someone you care about and respect and treat them accordingly.

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