Tip #24 - Negotiations. Seek First to Understand - 365 Tips To Becoming A Successful Realtor®

Real Estate Agent with Elite Realty NW - Keller Williams, Vancouver Washington

365 Tips To Becoming A Successful Realtor®

365 Tips To Becoming A Successful Realtor®

Tip #24 - Negotiations. Seek First to Understand

Early in my career as a real estate agent in Vancouver Washington, I lost a deal for some of my clients. At first I was confused. I had followed my own rule, (Tip #10 - Negotiations. Ask And You Shall Receive Information! ), but the deal failed. My clients were upset and it was my fault.

The problem was that I didn't fully understand my clients' needs, wants, and motivations.

I am generally a tough negotiator. I like to get my clients the best deals on the best homes in the best areas. I advised them to make an offer that was lower than they had planned. I was hoping to meet the seller in the middle somewhere and ultimately get my clients a super deal on the home. Where I failed was that I didn't realize that my buyers really really wanted that home. They weren't concerned with the price. I didn't take the time to understand that the specific home was more important than the price.

Luckily, a home across the street on a bigger lot was listed a week later and we snapped it up right away.

The price was my motivation, not theirs. Not everyone is motivated by a great price. I learned (the hard way) that many buyers are just as motivated by the neighborhood, or the school district, or the flower garden or the..? I haven't made that mistake again.

Posted by

Mark Hall

How much is your Vancouver Wa home worth? We can tell you instantly - Vancouver Home Values

Want to search for homes just like licensed Realtors do? 
Vancouver's Best Home Search is now up and running - VancouversBestHomeSearch.com  

Rather search for homes on your smart phone?
My clients love our new home search app! - Vancouver's Best Home Search App

Homes for sale Vancouver Washington


This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
ActiveRain Community
The Lounge at Active Rain
Almost Anything Goes
Club Chaos
365 tips to becoming a successful realtor

Spam prevention
Show All Comments
Richard Weeks
All Star Home Group - Dallas, TX
Realtor, Associate Broker

Well said.  I guess the old saying "a lesson earned is a lesson learned" was very true.

Jun 17, 2010 08:15 AM #1
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?


Mark Hall

Homes for Sale Vancouver Washington
Ask me a question
Spam prevention

Additional Information