It’s a balancing act.
I mean, buyers want to know they’ve got a great deal. That they’ve paid the lowest possible price for their dream home.
But sellers want a great deal too. They want to feel they’ve got the highest possible price for their property.
And yet you don’t want one party walking away feeling like they’ve ‘lost’ the negotiation.
In an ideal world, you want to satisfy both the buyer and the seller.
Is that even possible? We believe it is.
But negotiating successful deals in real estate is tricky.
You don’t want to push anyone into anything. Let’s face it if one party walks away unhappy they’re not likely to say good things about you.
Having satisfied customers is a strong marketing strategy. You need as many people as possible telling their friends how great you are.
We believe there are 5 key ingredients for successful real estate negotiation, and we want to share them with you!
5 Steps for Successful Negotiations
Understanding is Critical
Charles Reade said,
“If you wish to please people, you must begin by understanding them.”
This means that if you want to negotiate a successful deal, you need to think about what the negotiation looks like from both sides.
Put yourself in the buyer’s shoes and understand their perspective. Then pretend you’re the seller and think about their point of view.
When you do this, you’ll understand where both parties are coming from. You’ll gain perspective on their thoughts and feelings.
Doing this will empower you. The insights you gain will allow you to break down their barriers and increase their commitment.
Think about these tips before your next negotiation and practice your skills. With strong negotiation skills and good local market knowledge, your business will skyrocket!