Negotiation-The Foundation of Representation

We don't just watch the MLS, we look for those homes not yet on the market because we have a buyer looking in that area. We are more to our clients

Always try to get the other side to split the difference on a number.  Often you can use that to bump their number substantially. 

"The art of negotiation"  The offer and then the negotiation that follows is what I enjoy most about being a Real Estate Agent.  I remember what one of my best clients told me years ago,  that he beleived in the "good deal concept", everyone gets a fair share of the deal - In the end everyone is happy -

We all need to remember that negotiation begins with the first "hello" or first email requesting information.

Good going Sherri...if you are a strong negotiator you will go far and make many people happy in our industry.

Thanks for sharing you inspirational BLOG! all the best to you in 2013.

Hi Sherri, we have taken our 45+ years of negotiating and turned it into part of our presentation.

Cover letters and years of experience, really benefit my clients when negotiating an offer.

In this hot sellers market often negotiations are tough.  I spend a lot of my time trying to direct my clients to listings that I think will be receptive to their funding and needs.  

Negotiation is the most fun part of the job for me.  Normally, it is a win-win situation unless you are represented by a limited (no) service broker.  Then, you won't do so well.  Sorry, but that is the way it is.  You do  get what you pay for.

Sherri, one of the first books I read about negotiating when I first got into this business was, The Art of the Deal by Donald Trump. Although the numbers are a little different (OK, a LOT different!), I knew this business was for me!

Sherri, you can always tell that realtors are committed to their clients' best interests ahead of their own interests when they can give advice to walk away. Way to go!

Sherrie, thank you for bringing forth the subject of negotiation.  There was a time when realty agents were considered "salesmen" with the notion of "talking people into doing"; but folks don't like being "talked into something."  Later, the emphasis moved toward "helping the client make a decision", but the argument may have been contrived to get a sale.

However, the agent who listens, cares and acts accordingly gains a level of trust that lends credibility to their negotiating position.  REALTOR® to REALTOR®, and REALTOR® to client relationships, best built on trust, become the vestibule of negotiations.  When you and I recognize our clients' common goals (and thus ours') we focus on solutions rather than adversarial competition--we each work in our respective clients' best interest.  "Take it, or leave it" seldom does that.

When our clients accomplish their primary goals and consummate the deal at the closing table, they see us as true professionals--more interested in providing a vital service than just out for a fat check.  Amazingly, the first brings the latter.  

Continuing Education shows it's worth when two professionals manage the transaction to a successful conclusion.  Do you agree?

Wishing you many successful conclusions. Congrats on the well deserved Feature.

I love the negotiation aspect of the business. Unfortunately, I'm currently going through the biggest negotiation 'nightmare' of my career. The lady (who reminds me over and over again that this is the first home she has ever sold and needs me to give her good advice) refuses to compromise on anything and is convinced that I am "not representing her best interests" b/c I haven't been successful in the buyer's agent and the buyers to swallow that SHE has decided is fair and reasonable. Oh well - - time to stop. If I go on I'm just going to be venting!

What bugs me the most is when I hear an agent say "MY CLIENT WILL NEVER AGREE TO......"  It is the client's decision.. the agent should not stand in the way.

Dear Sherri,

You are so right. Some clients are asking for too little, some are fair and square, while some want the moon and maybe some money in the bargain to take the house off the sellers' hands. You can always ask, but sometimes the other side will not go for it. I find it best, when everyone comes out ahead on something with a sense of fair play on the moon items.

I love this aspect of the business but I dont think I would go as far to say as its the single biggest aspect of our business. Fact finding getting the wants and needs of the clients and meeting or exceeding those I think are more important. Bottom line you need to be good at ALL aspects of our industry to properly serve your clients and some of that is definitely a solid negotiation ability

The perfect outcome with negotiations in my opinion  is when is a win -win situation that is fair to all parities. 

Representing my clients is of utomost importance. But sometimes, well one scenario actually, where my clients decided to negotiate themselves, while I wasn't there at a house they were looking at. When i found out they had went on their own to view this house and found out that they made a tentative deal, well lets put it this way, even though after i researched and found that they over bid on the home, and told them this, since I am working in their best interests, it just caused an uproar, lots of headaches and crying, to the point where they didn't even want the house. In the end, i was able to get the home down a little from THEIR handshaked deal price, but it was not easy.