The big term for the last several years was "Win..Win!" In today's market it is a total loser. It represents an agent that does not know the basics of negotiating, and is a capitulation in representing your client's needs. If an agent has a signed agency with a buyer or seller, the responsibility of the agent is to get the best possible terms. It does not mean that there should be concern for the other party that you have absolutely no obligation to represent under the law. You should treat them fairly, and in a professional matter. However, you can only represent your clients issue under the law. This is real estate 101, and the way it always used to be before it got stupid.
So many of today's agents whine when they get a low offer, they should be grateful. Then next thing they need to do is roll up their sleeves and prepare to work for their client's best interest until the deal closes. Remember those big commissions we are paid? There is a reason that we paid so much, it is our skill. There is an old saying in real estate that was forgotten in the recent markets. It is making a big comeback, and it is called "Everything is negotiable!" Get used to it; it's going to be around for a real long time. Whatever both parties agree to, as long as it is legal is fair game. Closing costs, transfer tax, home warranties, repairs, termite bonds etc. If you do not know how to ask, you cannot ever get them! Remember nothing is sacred! Sellers need to stop pouting when they get a low offer, it is not an insult - they need to get over it real quick and turn on the news. Take a number you are not alone. The key is to have a strategy to obtain the best possible outcome for your own clients needs.
- Make sure your agent has lots of experience. (At least 30 - 40 closed deals)
- Have agent provide references and testimonials.
- Offers are not insults - it is the current market we are in.
- Deal with the contract facts - do not read more into them.
- Verify all items - qualifications etc.
- Do not posture that you have other offers.
- Try to find out the other parties needs or hot buttons.
- Go for a quick close 2-3 weeks when possible.
- Do not allow a pre-occupancy ever.
- Never negotiate out of weakness.
- Before you list your home, understand the realities of your market adn price range.
- Listen to the advice of your experienced agent.
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