Negotiation is one of the strongest skills you can possess as a Realtor®.
And you should know that by now. However, there is always room for improvement. By better negotiating with sellers and buyers, you will most likely boost sales and attract new clients.
The Texas Realtor® recently complied a list of five tips for you to sharpen your negotiating skills.
- Know as much as possible. Prepare for negotiations by gathering all pertinent information. For a purchase or sale, that could be inspection reports, property information, knowledge about all parties’ situations and financial information.
- Stay levelheaded. By the time you’re negotiating on behalf of your clients, you’re deep into a process that involves strong emotions and sometimes difficult personalities. Keep your cool, listen carefully and stay professional while you focus on the goal.
- Negotiate beyond the price. In certain markets, sale price may not be easy to negotiate. Encourage your clients to negotiate other terms, such as conveying appliances and furnishings, repairs or a more convenient closing date.
- Write it down. Written agreements help you avoid misunderstandings and omissions. And when you put every step of your
negotiation in writing, you’re protecting yourself and your clients.
- Don’t say yes too quickly. If you have the time to spare, examine the terms you’re agreeing to, whether for yourself or your clients. You’ll avoid costly mistakes—and may even get an extra concession by the party anxiously awaiting your decision.