Negotiate like a pro!
The process of negotiating an offer often leads to high stress and high emotions. Whether you’re representing the buyer or the seller, your clients are looking to you for expertise and advice more than ever at this stage of the transaction. This is your chance to shine and demonstrate your value! While “amateur” agents let emotions cloud negotiations and persuade clients to make the rash decisions, the most successful REALTORS® can negotiate firmly while diffusing tensions, and turn a client into an advocate for their business.
In this month’s Sales Success webinar, Chris Leader discussed negotiating the offer, representing buyers and sellers, and how to modify your strategy based on market conditions. Here are just a few of the tips he shared to help you negotiate like a pro:
- Know your market! Some agents try to service too many areas and rely on online statistics. Keep your ear to the ground in terms of what is happening in your market. If you don’t know a market well enough, how can you persuade your client to do the right thing?
- Stay cool. Your clients are relying on you to be a beacon of stability during what can be both an exciting and stressful time. Don’t lose your composure and stay in control – your clients are looking to you.
- Avoid positional bargaining. If your buyer client is interested in a property, don’t submit an offer that is well below the listing price or market value in the hopes that the seller will meet you in the middle. The fewer times the offer goes back and forth, the more likely the deal is going to be successful. This is a major financial transaction, not a flea market purchase, and some sellers will ignore a low offer they consider insulting on principle.
- Focus on the people, not the problems. Of course finances are top of mind for almost everyone involved in a real estate transaction, but small personal touches can go a long way. Chris shared a story about a $2.3 million listing that received 24 offers, and how a simple note from the buyer’s representative and the buyers themselves helped ensure that their offer was accepted.
View the whole webinar
To watch previous Sales Success webinars, visit the Sales Success page on royallepage.ca/training.