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Negotiating: the Art Of Influencing Others

What Every Real Estate Agent Should Know

The negotiation begins as soon as one side attempts to influence the other, which is usually way before a contract is written.

Think about your first encounters with  your customers &  the agent on the other side. Your rapport with both of these individuals will have an effect on the negotiation of the contract on a specific property.

 I have seen many times where the agents do not get along because of some miscommunication and they just become difficult to deal with. Obviously this should not affect the sale but in actuality it does. Not fair to the customer on either side. One needs to begin with the end in mind!

Data from the NAR 2008 Profile of Home Buyers & Sellers names the skills most coveted by buyers & sellers from their real estate agents, 98% believe that negotiation skills are “very important”but only 43% of all buyers felt that their agents negotiated better terms on their sales contracts and 37% felt that their agents negotiated a better price.

Buyers assigned negotiation skills the lowest satisfaction rating of all agent skills and qualities.

So if one wants to be  successful in this business honing your negotiation skills is a good idea! Plus it is useful in every aspect of your life.

Some important things to do

• Present the offer yourself directly to the decision maker (You can do this with the other agent present)
• If you cannot get face to face with the decision-maker send a cover letter with your offer stating your case.
• Develop a good working realtionship with the agent on the other side.

What’s in it for Everyone?

The negotiation process is quicker & less problematic. When an offer presentation is used the entire negotiation can be wrapped up in a day as compared to a week or more.

Some resources :

Getting to Yes, Roger Fisher & Willian Ury

This entry was posted on Friday, April 24th, 2009 at 9:30 am and is filed under Agent Talk. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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