Negotiating What Works and What Does Not

By
Real Estate Agent with RE/MAX Executive Realty, Al and Cal Realty Group S-96414

Negotiating What Works and What Does Not

Bringing two parties together in a Real Estate transaction isn't always easy, but it is done by Realtors everywhere, everyday.      It is part of their skill set, part of their job.    A skilled negotiator, in my opinion, is a person that is a good listener and is also capable of detaching themselves from the parties emotions.   They are also able to communicate and think ahead.    how to negotiate, tips on negotiating, negotiating successfully

A client of mine recently asked me what I thought made a great real estate transaction.    He was being funny when he said that in his opinion it is when all parties feel like they have been taken.    I guess there are many that think that way.   I don't.  

I feel a successful negotiation is when we have a meeting of the minds.   It might be that not everyone always gets exactly what they want.  There can be trade offs and most time there are.    I mean think about it really.   Is it possible for the Seller to get the more than market value and the Buyer of the same transaction "steal" the home?   Of course not.   That's ridiculous.   When both parties are comfortable with the outcome, it is successful.   

For a Realtor, it is very frustrating to see a person who wants to buy a home and a person who wants to sell a home unable to fulfill their desires.    The home buying and selling process is riddled with emotion and is such a big ticket item that one seemingly very small thing can stall and end a negotiation.  

In my opinion, it doesn't matter what side of the fence you are on, or if it is real estate for that matter.   

Things that kill a deal.  

 Ego, Ignorance, Fear, Freezing, Stalling, Pit Bull Attitude, Being Unreasonable, and not thinking ahead.  

Things that work.  

When negotiating, leave your emotions and ego at the door.    Do your homework, listen to the professionals not the well meaning "experts" and remember to think ahead.   Anticipate how the other side will feel and react to your position.   Temper your prompt response accordingly. 

It is not unreasonable to want the best for ourselves, and I am not saying give in, rather think.   (for example, if you go up on your price 20k after coming down, how will the buyer react to this?   Do you think they will understand this tactic ot walk away??   Flip side, if you ask for the Seller's Jag, will the Seller likely respond??)    Again, not saying give in, just think.


Are you looking to buy or sell real estate in the Franklin MA area or surrounding communities?   

If so, I am your gal!     Al and Cal offer years of experience and a service guarantee!

The real estate market is heating up!

Contact me today   cal@alandcal.com     508-494-9061


_________________________________________  


About the author

Carol-Ann Palmieri, 

is a full time Real Estate professional in Massachusetts for the past 25 years along with her partner Al Mussi have helped literally hundreds of families find, sell or purchase new places to live.

 A former US Marine, she grew up in Walpole, MA...  is committed to the serving the community through various volunteer opportunities.   She attended MA Bay Community and Suffolk University and is committed to constantly updating her Real Estate education.

 Licensed in MA and RI...

 Al and Cal's primary areas of service Franklin, Bellingham, Medway, Millis, Medfield, Norfolk, Wrentham, Plainville, Blackstone, Walpole, Milford, Holliston, Hopkinton, Mansfield, and Foxboro, North Attleboro, Norwood, Hopedale, Mendon, Millville but have resourses to help anyone, anywhere....
  
Her mission....  To exceed your expectations!


 

 

 

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Ginger Harper 02/25/2013 10:42 AM
Topic:
Real Estate Sales and Marketing
Groups:
RE/MAX Active Rain Bloggers
Posts to Localism
MA REALTORS
Local Expert
Around The Water Cooler
Tags:
negotiating 101
negotiating your real estate transaction
carol ann palmieri realtor franklin ma

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Rainmaker
1,101,776
Al Raymondi
Ocean View Realty Group in Ormond By The Sea Florida - Ormond Beach, FL
Ormond By The Sea Florida - Home and Condo Sales

Terrific post Cal, congrats on the feature.  The best negotiated deals are when each side comes away satisfied.

Feb 25, 2013 09:29 PM #33
Rainer
288,771
Ron Aguilar
Continental Mortgage - Saint George, UT
Mortgage & Real Estate Advisor since 1995

very good post and truly relevant today

Feb 25, 2013 09:47 PM #34
Rainmaker
292,351
Robin Rogers
Robin Rogers, Silverbridge Realty, San Antonio, Texas - San Antonio, TX
CRS, TRC, MRP - Real Estate Investment Adviser

What a great overview of real estate negotiating! Compromise is not a dirty word.

Feb 25, 2013 09:55 PM #35
Ambassador
1,906,801
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

You've got the right stuff Cal Gal. I too feel that both parties should feel comfortable and walk away from a real estate transaction as satisfied customers. Not sure why some people think negotiation means "beating up" on the other party. Outdated and archaic thinking in my opinion. Have a great week. D

Feb 25, 2013 10:37 PM #36
Rainmaker
2,485,867
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Dialogue with connection rules the day....There is nothing people cannot work out if they just make it their business to do so

 

Feb 25, 2013 10:54 PM #37
Rainmaker
1,558,474
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

The best strategy is to put yoursel f in the other persons shoes before you respond or put in an offer.  The offer is the start of the negotiations & that's where it can get off on a good footing or bad. 

Feb 25, 2013 11:15 PM #38
Rainmaker
658,154
Pat & Wayne Harriman
Harriman Real Estate, LLC (203) 672-4499 - Wallingford, CT
Broker/Owners, Wallingford CT Real Estate

A great real estate transaction is not when everyone feels taken, but when everyone feels like they won. The first one is a negative, the second is a positive. And the way in which you negotiate now can have an affect on future negotiaitions as well.

Feb 25, 2013 11:27 PM #39
Rainer
171,858
Randy Bocook
Keller Williams Coastal Area Partners - Richmond Hill, GA
Selling Coastal Georgia

"When negotiating, leave your emotions and ego at the door."- This is something that most buyers and sellers forget to do when negotiating a deal as they tend to take every little counter offer and special stipulation to heart. Neither one is trying to hurt the one's feelings; they are both just trying to get the best deal possible. That's why we as agents need to be vigilant in educating our clients and being their advocate.

Feb 26, 2013 12:28 AM #40
Rainer
139,841
Ridhi Raheja
Movement Mortgage (Illinois) - Naperville, IL
FHA, 203k, VA, Jumbo, PreApproval, Jumbo Home Loan

The best transaction is when both of you and your client is happy and satisfied.. Keep those great posts coming Al and Cal! I wish you the best! 

Feb 26, 2013 12:39 AM #41
Rainmaker
222,108
Jirius Isaac
Isaac Real Estate &TriStar Mortgage - Kenmore, WA
Real Estate & loans in Kenmore, WA

You are absolutely right in what you are saying about how to negotiate in good fatith, especially about looking at how the other side sees things.  However, when you use the the word "realtor" you leave out those of us that do not pya a lobby organization.  Just sayin.

Feb 26, 2013 01:52 AM #42
Rainmaker
538,908
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

Excellent post, thank you !  Well said.  It's best if everyone works together and the nasty egos are left behind.

Feb 26, 2013 02:50 AM #43
Rainmaker
1,063,387
Sharon Parisi
United Real Estate Dallas - Dallas, TX
Dallas Homes

Carol-Ann, you are so right.  Ego never works in negotiation.  Seeing the negotiation from the other side often helps the buyer and seller think outside the box and get the transaction closed.

Feb 26, 2013 02:58 AM #44
Rainmaker
1,431,497
Gene Riemenschneider
Home Point Real Estate - Brentwood, CA
Turning Houses into Homes

Some people are not happy unless they beat the other person down.  That being said often just getting the thing closed leaves everyone in a better mood.

Feb 26, 2013 04:14 AM #45
Rainer
140,315
Keith Whited
RE/MAX Gateway - Alexandria, VA

Excellent Post - clearly you've been around the negotiating block more than a few times.

Feb 26, 2013 08:25 AM #46
Rainmaker
3,215,545
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

I always say that the sign of a good negotiation is all parties walking away from the table feeling like winners. If anyone feels like a loser it's trouble. Our job as agents is to help position negotiations in such a way as to ensure that our respective clients feel like winners.

Feb 26, 2013 11:46 PM #47
Rainmaker
848,657
Bob Miller
Keller Williams Cornerstone Realty - Ocala, FL
The Ocala Dream Team

Hi Al & Cal, that is exactly what we tell our buyer's agents - leave the emotions out of it!

Feb 27, 2013 01:36 AM #48
Rainmaker
309,408
Carol-Ann Palmieri
RE/MAX Executive Realty, Al and Cal Realty Group - Franklin, MA
"Cal" the Real Estate Gal

Hi All.  Thank you for taking the time to read and comment on this post.   Your comments all interesting and very much appreciated.   I hope everyone has a great week.   Thank you!

Feb 27, 2013 03:49 AM #49
Rainmaker
91,993
Dolores "Dee" Mauriello
Keller Willaims - Wayne, NJ
Realtor, Homes For Sale Wayne NJ

Having proper representation in my opinion is the start of good negotiations. Just as buyers and sellers in a transaction never use the same attorney, wouldn't that principal apply also in regards to your real estate agent? Yes I know its nice to get both ends of the commission but intrinsically there are many risk to this double representation. As a buyer's agent I breath so much easier knowing I work for the best interest exclusively of my buyer client. Negotiations become just that and not  responses to keeping everyone happy and avoiding agent liablility.

 

Feb 28, 2013 12:34 AM #50
Rainmaker
2,051,128
Robert Bob Gilbert
Berkshire Hathaway HomeServices Anderson Properties - Katy, TX
Your Katy TX ( West of Houston) Real Estate Expert
Cal, Congrats on the feature and I happy for once AR liked my suggestion as lately I am not batting very high at all.
Feb 28, 2013 02:52 AM #51
Rainmaker
309,408
Carol-Ann Palmieri
RE/MAX Executive Realty, Al and Cal Realty Group - Franklin, MA
"Cal" the Real Estate Gal

Hi Delores.   I totally agree.   Love the name by the way!   

 

Hi Bob.  haha.   Thank you.  I appreciate your support!!!!!

Feb 28, 2013 08:31 AM #52
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Carol-Ann Palmieri

"Cal" the Real Estate Gal
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