Tough Offers Negotiating - A True Story

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Education & Training with Real Estate Grad School

It’s one of the most interesting parts of my job.  When an Agent that I coach is in the middle of a tough negotiation I ask them to call me. Debbie did.

The asking price was $769,000.  The offer came in at $625,000.  

Debbie is smart and talented.  As the owner’s anger and frustration arose, Debbie calmly explained that, “All offers are good offers,” that in this market Buyers feel that owners may be desperate.  The key is that she kept the owner objective. 

She did not disparage the offer, the other Agent or the Buyer.  She didn’t compliment them either.  Instead she kept it objective.

The owner countered at $725,000.  The Buyer came back at $640,000.  Again, as you might expect the owner was angry and frustrated. Again, Debbie kept her cool and told him.  “I want to be as upset at you are but my job is to keep my eye on the goal of getting you the price you need to get the job done.  So, let’s decide do we want to tell them we won’t respond until they raise their offer?  Do we want to make a small concession and keep inching closer?  Or do we want to go to or close to your bottom line and send the message that we want to get this done with less “Mickey Mouse” back and forth. 

She explained the risks of not responding and allowed the owner to lead the decision making with her guidance.

So many Agents who are far less skilled negotiators than Debbie empathize with their Client in ways that paint the other Agent or the other party as wrong, greedy, etc.  Debbie demonstrated three key negotiation skills of a talented negotiator.

  1. She kept the negotiation and her Client objective.
  2. She kept the conversation and the negotiation focused on the goal.
  3. She kept herself objective and focused on the goal.  

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Ambassador
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Charlie Ragonesi
AllMountainRealty.com - Big Canoe, GA
Homes - Big Canoe, Jasper, North Georgia Pros

I had a deal that we started negotiating on in Jan and finished in March. It ended up closing and kudos to the other agen . It takes 2 to keep their cool

Sep 23, 2011 05:02 AM #1
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Susan Jackson
America's Network Realty Group, Inc - Sandy Springs, GA

Leave the emotions out and focus on the goal.  Oft times we get caught up in the seller's reaction and forget what we are there for.

 

Sep 23, 2011 05:07 AM #2
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Rainmaker
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Rich Levin

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