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ARE YOU A SKILLED NEGOTIATOR? DO YOUR CLIENTS THINK YOU ARE?

By
Real Estate Sales Representative with BETTER HOMES AND GARDENS REAL ESTATE SIGNATURE SERVICE

Yesterday I was fortunate enough to attend a great one day learning experience at my office, conducted by Chris Newell, a passionate teacher who has helped thousands of Canadian real estate professionals all over Canada.  Chris brings a level of understanding and profiency that few can match, a skill he believes is paramount to success - the skill of Active Listening.

Yesterday he taught a course entitled SMART-ER Negotiaion for Realtors® ®.  

What is Negotiation?  Negotiating is NOT compromise. Negotiation is a proces of how we get to the end result, not the end result itself.. Its how we get there.  Not to say we should lost sight of the end result, but paying more attention to HOW we get there.. its all about the process. 

So why would we think we need to learn the art of negotiation if our clients are happy and our deals come together.  Many of us are not aware of some pretty significant statistics on this subject.  Here are some eye opening stats from the NAR 2011 Profile of Home Buyers

  • Only 37% of all Buyers felt their Realtor® could have negotiated a better price.
  • Only 44% of all Buyers felt their Realtor® negotiated better sales contract terms
  • Buyers give "Negotition Skills" the lowest satisfaction rating of all Realtor®  skills and qualities
  • Only 5% of Sellers want "help with negotiation and dealing with Buyers."
  • 99% of buyers beleive negotiation skills are "very important" in their Realtor®
Most of us beleive, as I did, that if we had a successful sale, the deal came together, that everyone was happy.  We couldn't be more wrong.  Could our clients have been happier? Could you have done better for them? Unless you have been a trained negotiatior, and follow a written process, you may never know. Despite what you may think, and despite what some clients tell you, they are not happy with your negotiating skills.  Learn BATNA - The Best Alternative to a Negotiated Agreement.
 
 
There are numerous scenarios where you would be in a negotiation situation, and I think we can all agree that negotiating can be complex as there are many parts to the negotiating process.  Emotions also can play a part in negotiations, but negative emotions must be minimized or eliminated from the process.  A person who is a skilled negotiator can manage emotions on both sides of the table.
 
There are many personalities thus creating different negotiation styles, such as Aggressive, Cooperative, and Accomodating.
 
If you are facing a negotiator who is Aggressive, remember aggression is fear based and they are usually deceptive and are usuallly very rigid in their thinking.. Their approach is narrow, focusing only on the fixed amount of the value, and not taking into consideration other parts of the offer involved.  Theier position is that if they acquiesce to anything, it make them look weak. 

If you are a cooperativer negotition, as are most successful realtors, you ask questions, gather information, make positive comments to foster cooperation, have a win-win mentality, have an undertanding of the wants and needs are of both parties, and negotiate from a postiion of strength.

No matter how long we are in this business, there is always something to learn.  The course went on to teach us, among other things these valuable tools.  

  • how to handle aggressive negotiators, 
  • how to negotiate your listing contract
  • how to implement persuasion techniques, 
  • anticipate responses from other parties and prepare hour responses,
  • build trust by respecting the needs of others
  • focus on the benefits to all parties 
  • listen attentively and hear them out fully
  • create a joint problem solving atmosphere
  • remain calm, pleasant and open to range of options

and much, much more.

It was an information packed, fun day, which I highly recommend and I now have learned some new and better negotiating techniques I can put to use moving forward. 

For more information or to contact Chris Newell, on becoming an Accredited Senior Agent, or on the course SMART-ER Negotiations for  Realtors® ; or other courses for Realtors®  you can email him at: educationforresults.@gmail.com

 

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Mississauga and Streetsville Real Estate


When you choose me to handle your real estate needs, you choose a real estate professional who cares about you and your family, who listens to your needs and who will put your interests first and foremost. I will work together with you, protecting your interests, to achieve your objectives.

I have been uniting families and homes for more than 31 years.. Let me put my 31+ years of knowledge and experience to work for you when selling or buying your next home.

 

Proud recipient of the Platinum award for outstanding serivce with a rating of 100% voted by my clients!!

A great experience starts with a great agent !

Helping You Make The Right Move since 1987. 

Call me at (905) 896-4622 or direct at (416) 717-6331

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No part of this publication, may be reproduced, distributed, or transmitted in any form or by any means, including photocopying, or electronic methods, without the prior written permission of the publisher.  Copyright © 2018  Gloria Valvasori, all rights reserved.

 

Comments (5)

Lehel Szucs
All Seasons Real Estate, Inc. - Covina, CA
REALTOR of choice

negotiation is a lost art in our business ... my opinion only .... too many agetns negotiate fromthe point of view of fear .... 

Sep 26, 2012 01:16 AM
Gloria Valvasori, Accredited Senior Agent
BETTER HOMES AND GARDENS REAL ESTATE SIGNATURE SERVICE - Mississauga, ON
REAL Experience | REAL Commitment | REAL Results!

Lehel, I agree completely, that's why I took this course... I wanted to be a BETTER negotiator and I did learn some valuable tools...

Sep 26, 2012 01:27 AM
Arizona Home Group RE/MAX Excalibur
The Arizona Home Group - Scottsdale, AZ

Great information!  Strong negotiation skills consistently rank high on attributes clients consider important. I will definitely follow-up on any resources Chris may have available.

Sep 26, 2012 02:08 AM
Karen Kruschka
RE/MAX Executives - Woodbridge, VA
- "My Experience Isn't Expensive - It's PRICELESS"

Gloria  With 36 years in the real estate business I've seen negotiating skills continue downhill - too many firms don't emphasize the need

Oct 09, 2012 11:36 PM
Karen Kruschka
RE/MAX Executives - Woodbridge, VA
- "My Experience Isn't Expensive - It's PRICELESS"

Gloria   Arthur and I just stopped by to wish you a Happy, Healthy and Prosperous 2013

Dec 30, 2012 07:14 AM