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Set Your Ego Aside, Talk Less & Master the Art of Negotiating by Listening!

By
Education & Training with Candidate for an Ed.D. in Educational Leadership

In the past 3 years as a REALTOR in the Saint John area, I've seen many Realtors that speak before they think!  They usually let their ego do the talking and lose their client or opponent Realtor at the other end.  Being a former Math & Science teacher, I learned this early, but make it a point to reinforce it daily!

I'm the quiet type and have an advantage, since I listen for fluctuations in their speaking (when on the phone)  and read body language (when in person).  I never let them realize this, I just let them talk, so I get even more information from them.

This blog is for many of the Realtors who have never really got their "Listening Skills" down.  I will be discussing the very basics on listening skills to help them negotiate the next deal and come back with their clients needs & expectations.

                                                                                                                                                           

1) It's far more important to be a good listener than a good talker, when negotiating!                 

       - State your case clearing & concisely & then "shut up".                                                                             

 

2) Silence is a great weapon!

      - Talking more gives information to your opponent.

      - Let the other side do the majority of the talking.

      - Active listening gives you clues on what the other side really wants to accomplish.

      ** The party who talks the most makes the most concessions.

3) Listening skills have to be learned!  (This is something you are Not born with.)                         

      - Work on improving your listening skills daily, so you can master the art of negotiating.

           a) Listen more by talking less.

           b) Take notes.

           c) Ask more constructive questions.

           d) Don't interrupt your opponent.

           e) Use more eye contact.

           e) Use the RSVQ Formula:

                    1) Repeat what was said in your own words.

                    2) Summarize the main points & subpoints.

                    3) Verify that your heard the correct information.

                    4) Query, by getting more constructive questions in and to give you more info.

 

**** Good listening skills provide the foundation for effective negotiating!                          

 

Finally, I always remember these two phrases on negotiating:

"He who speaks 1st loses."

"The party who talks the most, gets the least."

 

Posted by

              

Wendy Rulnick
Rulnick Realty, Inc. - Destin, FL
"It's Wendy... It's Sold!"

Anne- Marie - Well said. I would like to add specifically (your query):  "Is there anything else you'd like to add?" or sometimes "Is there something else I should have asked you?"

Jun 08, 2010 12:07 PM
Richard Weisser
Richard Weisser Realty - Newnan, GA
Richard Weisser Retired Real Estate Professional

Ann Marie...

I have a problem being quiet because my mind is alway racing in high gear, and it's something that I constantly have to work at. But you are correct in saying the it is imperative to just listen and be quiet at the right time, and it will work to your own advantage!

Jun 08, 2010 12:31 PM
Geri Sonkin
Douglas Elliman Real Estate 516-457-7103 - Merrick, NY
Long Island Real Estate & Staging Expert

I've often been party to negotiations (to get a listing or to complete a sale) only to be amazed by another agent offering way too much or extraneous information.  It's a lose/lose situation, the seller or buyer upset at not being heard and the person with no built in editor often walking away with no understanding of why he/she didn't get the desired result. 

I've always heard the reverse though, "he who speaks last loses."  Know when to hold 'em, know when to fold 'em . . .

Jun 08, 2010 12:54 PM
Cheryl Ritchie
RE/MAX Leading Edge www.GoldenResults.com - Huntingtown, MD
Southern Maryland 301-980-7566

I like the RSVQ concept. That is neat when you are on the receiving end of someone who practices active listening.

Jun 08, 2010 02:25 PM
Ann-Marie Clements
Candidate for an Ed.D. in Educational Leadership - Saint John, NB
Ed.D. candidate, Innovative Proactive Principa

Wow!!! 13 hours go by and you guys have really left me messages!!!  And I got a "gold" star... YEAH!!! ;>))

Hi Kathryn,  Or you can think "Learn from Listening"  ;>))

Hi Joseph,  We can't look to eager by doing all the talking or we lose the client too quickly!  ;>))

Hi Laura,  Giving them your full attention by letting them do the talking...  ;>))

Hi Bobi,  I have to remind myself everyday!!  ;>))

Hi Terri,  Thanks, I will try to write another blog on it!  ;>))

Hi Mike,  Give your clients your utmost attention by listening...  ;>))

Hi Jeremy,  Never give them too much, they tend to walk all over you...  ;>))

Hi Gerry,  I think this is something "Real Estate Schools" and "Local Boards" need to focus on, just like if you were going for an MBA, you would get the training in Negotiations.

Hi Charlotte, I agree, you have to give your clients time to process what they have seen, liked or for that matter not liked... ;>))

Hi Dave, I think all Realtors should get Negotiation training before they become Realtors and re-training over time... (Look at Gerry's comment above) ;>))

Hi Barbara, Short & simple will get you out of there with a contract in your hand... ;>))

Hi Gene, I learned that with my "Teacher's degree", couldn't have gotten through my Masters degree without note taking and the professors loved it...  I stroked their egos... ;>))

Hi Anna, You must have been a teacher also, RSVQ is a great technique for working with students... ;>))

Hi Lola, And 2 eyes to watch the body language...   ;>))

Hi Pete, Looks like your on the right track!  ;>))

Hi Nester & Katrina, And those 2 eyes that really pickup their posture, attitude and que of when they are finished talking...

Hi Wendy, I think that's the best question for the end also... This helps them process what they might have wanted to ask, but forgot or left it out and now have the opportunity to ask.  Well said... ;>))

Hi Richard, You probably have a mind like me, I process 24/7, I dream and think of eveything I did that day... I can't turn off it either, but I've learned that my shyness is helping me negotiate much more effectively, by reading the client & their needs better!  ;>))

Hi Geri, Isn't there a song with that "Know when to hold 'em, know when to fold 'em..." I like that...  ;>))

Jun 08, 2010 02:40 PM
David North
Coldwell Banker Bain - Duvall, WA
for a rewarding real estate experience

Good post, Ann-marie.  The discipline to keep our mouth shut is so valuable and yet so rare.

Jun 08, 2010 03:25 PM
Keith Lutz
Keller Williams Metropolitan - Long Valley, NJ

Well looks like evey other poster, said what I was going to say about 1 mouth, 2 ears.  Darn!  I think it was my 10 fat fingers that slowed me down!

Jun 08, 2010 03:38 PM
Chris Olsen
Olsen Ziegler Realty - Cleveland, OH
Broker Owner Cleveland Ohio Real Estate

Hi Ann-Marie -- So true.  I was fortunate to be able to both role-play in training and really dive into Principled Negotiations, Getting to Yes, etc., asking open-ended questions like: "Why's That???"

It's amazing what one can learn.

Jun 08, 2010 04:30 PM
Aaron Vaughn 830-358-0455
Conifer Builders LLC - Canyon Lake, TX

Ann-Marie:

Great job here, and I agee with you 100 percent! Listening is perhaps the most important, and least seen, skill around.

Jun 08, 2010 04:38 PM
Mike Jones
SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ
Mike Jones NMLS 223495

Ann-Marie,

Well written, to the point, and oh, so useful advice!  Congrats on the feature!

Mike in Tucson

Jun 08, 2010 10:34 PM
Ann-Marie Clements
Candidate for an Ed.D. in Educational Leadership - Saint John, NB
Ed.D. candidate, Innovative Proactive Principa

Hi David, So true, but it does give us the advantage!!!  ;>))

Hi Keith,  It's a great reinforcement to remember on a daily basis....  ;>))

Hi Chris,  I bet the role-play really helped you think about open-ended questions to ask on your feet!!  ;>))

Hi Aaron, "Silent is golden!"  ;>))

Hi Mike,  Thanks!!!  After seeing all the traffic on comments, I was tickled pink when I realized it was a "Featured" blog...  ;>))))

Jun 08, 2010 11:50 PM
Pamela Crews
Better Homes and Gardens Real Estate Main Street Properties - Perdido Key, FL
Real Estate Services In Pensacola Florida

"Listening skills have to be learned!"   YES! YES! YES!  

Jun 09, 2010 04:27 AM
Joetta Fort
The DiGiorgio Group - Arvada, CO
Independent Broker, Homes Denver to Boulder

My favorite thing is to adjust my style of communicating to the person I'm talking to. It seems to help us click.

Jun 09, 2010 05:45 AM
Eric Michael
Remerica Integrity, Realtors®, Northville, MI - Livonia, MI
Metro Detroit Real Estate Professional 734.564.1519

I don't want to say it's "common sense", because a lot of people don't have it, but I believe it's a great thing to remember... Let them talk, you really can gain tons of valuable information. Thanks.

Jun 09, 2010 11:07 AM
Ty Lacroix
Envelope Real Estate Brokerage Inc - London, ON

Anne-Marie

Verbal diarrhea has caused more deals & friendships lost.

Ty

Jun 10, 2010 09:22 AM
Karen Feltman
Cedar Rapids/Iowa City, IA KW Legacy Group - Cedar Rapids, IA
Relocation Specialist in Cedar Rapids, Iowa

Listening can be a difficult skill to acquire and asking better questions is also really important too.  Great post!

Keep smiling!

Karen

Jun 10, 2010 05:16 PM
Ann-Marie Clements
Candidate for an Ed.D. in Educational Leadership - Saint John, NB
Ed.D. candidate, Innovative Proactive Principa

Hi Joetta,   It sounds like you read the "body language", which is extremely important!!!  ;>))

Hi Eric,   I agree!!!  You have to let them speak, so you can get as much info as possible...  ;>))

Hi Ty,  I LOVE the expression "Verbal Diarrhea"....   ;>))

Hi Karen,   Working on the "Open - Ended Questions is also important, to get information out of them...  ;>))

 

Jun 11, 2010 12:42 AM
Kwesi Childress
Childress Investment Group/Keller Williams Beverly Hills - Beverly Hills, CA
Kwesi Childress R.E. and Investment Specialist

Yes, I have seen and experienced everything you are saying. Ive been in the business for 5 years and I have seen the agent "ego's" and the "me me me" attitude. I think most Realtors do it for other agents more so than for the clients. The competition between Realtors is what fuels the ego. I just don't allow myself to get distracted by it cause its not important, and the clients don't care either, they just want someone that will help them. Also in negotiating, less talk- intense listening is the motto!! No matter how so called "big" you are, clients are only going to do business with people they feel comfortable with( in the end).

 

Good topic with good tips!!!

Jun 14, 2010 09:39 AM
Ann-Marie Clements
Candidate for an Ed.D. in Educational Leadership - Saint John, NB
Ed.D. candidate, Innovative Proactive Principa

Hi Kwesi,

It's great to see that you have picked up on the skills needed to achieve with your clients and that being the "Big Agent" isn't necessarily an advantage.  You can learn from those "Big Agents" on how to get your foot in the door, but it does come down to how comfortable the client feels with the as the agent.  ;>))

Jun 20, 2010 03:01 AM
Wayne B. Pruner
Oregon First - Tigard, OR
Tigard Oregon Homes for Sale, Realtor, GRI

This is good advice. I've seen many agents talk themselves into inferior deals.

Aug 04, 2010 05:12 AM