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Negotiate with Integrity and Respect

By
Real Estate Broker/Owner with Pareto Realty TN #251071

We Realtors rely on each other to successfully sell and close home sales.

Our “jobs” are multifaceted, and I sometimes think that some Agents and Principal Brokers lose proper perspective – They develop amnesia – lose sight of the forest for the trees.

We confuse the difference of winning battles vs the war.

We forget that we CAN “pick our battles” . . . We can choose which bones to pick!

We can, with vigor, negotiate in good faith to “win” for our home buying/selling clients with civility and respect.

We can do this without petty squabbles which invariable have the same deliverables as rocking in a rocking chair . . . It keeps you moving but doesn’t get you anywhere useful.

Throughout my 27 year career as Real Estate Sales Professional, Principal Broker, and owner of Pareto Realty, I’ve literally shepherded thousands of clients and agents through difficult scenarios during this very important and complex process. As I look back on all these skirmishes, there’s ONE ingredient in the brew of EVERY one . . . a failure to communicate effectively.

Don’t forget why we’re in this negotiation!

Y’see? There’s this person or family who LOVES this house SO much they are willing to promise to buy it by signing a Purchase and Sale Agreement thereby committing to being “distracted” for 3-6 weeks accompanied by multiple SURPRISES along the way, and the tension that the stake is one of epic proportions. The emotional investment of buying a home is gargantuan.

Meanwhile, this seller or family is moving on from this home to a home that better fits a new lifestyle precipitated by any number of reasons all of which represent a vastly disheveled living scenario. Uncertainty is abound. “Will we be able to sell this house WHEN we need to move at a price that provides the equity they need in order to accomplish their mission.

These Buyers and Sellers are COMMITTED to this process.

As Realtors, our role is to “manage” (quarterback) no fewer than 42 people to complete the sale – Inspectors, appraiser, contractors, Lenders, Mortgage Lenders, Title companies.

We Realtors are the “keepers” of smooth communication.

That’s right!

The reality is that the ONE thing that can blow apart any real estate deal is . . . Lack of effective communication.

Interestingly, this principle translates universally in all collaborative pursuits.

Posted by

Barry Owen

Founder
Principal Broker
Pareto Realty
Nashville, TN

615.502.2080
www.paretorealty.co  
Call me: 615-568-2123
email me: barryo@comcast.net

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Comments (15)

Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

I remember a few years back, someone asked a fellow Realtor if they had to describe what they do in a single sentence, what would it be.  The answer, "Herding cats!"

Jul 20, 2020 11:47 AM
Nick Vandekar, 610-203-4543
Realty ONE Group Advocates 484-237-2055 - Downingtown, PA
Selling the Main Line & Chester County

This is so true, a good, smooth transaction really depends on the agent on the other side communicating, acknowledging receipt of emails, questions etc. When done properly, it is so appreciated that we notice it.

Jul 20, 2020 01:40 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

CONGRATULATIONS Barry, on having this blog FEATURED in the Old Farts Club group!  

Jul 21, 2020 01:43 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Hi Barry - We have to remember that to the seller and buyer, this is not a game. In negotiating, it's important to remember that. Agents need to remember the end goal is for both the seller and the buyer to win. 

Jul 25, 2020 02:37 PM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Jul 25, 2020 07:09 PM
Barry Owen

Thank you so much Kathy Streib 

Jul 27, 2020 07:25 AM
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

Yes, effective communication among lots of people is critical in getting to the closing. That's just one of our roles! 

Jul 26, 2020 04:54 AM
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

I've always seen negotiating as chess not tackle football. The core of this is communication and knowing the contract better than the other other agent. These days that is easy to get away with...no body seems to read anything.

I agree with you, our job is to ensure all parties are playing off the same sheet of music like a conductor.

Jul 26, 2020 06:40 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Barry Owen - so true.  What we have many times is a failure to communicate.

Jul 26, 2020 10:20 AM
Chris Ivy
Ivy Vine Investments - Memphis, TN
Sell Your House Fast For Cash In Memphis Tennessee

Barry I like this quote.  Great post!

 

invariable have the same deliverables as rocking in a rocking chair . . . It keeps you moving but doesn’t get you anywhere useful.  

Jul 26, 2020 02:38 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Barry:

You are right on target on such a key issue - communication! They are so many people involved and appropriate and timely commmunication is esential with each and every one. We all have experienced those situations where poor communication, or lack of, created major problems.

Jeff

Jul 26, 2020 08:37 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Barry Owen ,

Smooth transactions always require effective communication from all parties. We are gate keepers but also problem solvers. It's our job to make it happen and reach the closing table with all parties.

Jul 27, 2020 06:13 AM
Roy Kelley
Retired - Gaithersburg, MD

This is very good advice to share.

Have an outstanding summer.

Jul 27, 2020 06:17 AM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Barry Owen How true is this  so glad Kathy Streib  featured this post 

Jul 27, 2020 12:25 PM
John Henry, Florida Architect
John Henry Masterworks Design International, Inc. - Orlando, FL
Residential Architect, Luxury Custom Home Design

one of my favorite lines in cinema history...

Jul 28, 2020 08:29 AM
Richard Weeks
Dallas, TX
REALTOR®, Broker

Great information, thanks for sharing.  I hope you have a great day.

Jul 31, 2020 02:23 AM