Real Estate Negotiations: How Important Is It?

I’ve talked about some of the credentials following behind an agent’s name, such as ABR® (Accredited Buyer’s Representative).  These credentials don’t come easily.  Many hours of training are required and often times proof of closed transactions.

CNE® (Certified Negotiation Expert) is a new Realtor® credential as of 2009.  I have this credential as well.  My clients rely on me to negotiate in their best interest.  So let’s talk about the steps involved in the negotiation process.

Step 1.  Prior to an offer being written or presented, I prepare my buyers or sellers for what to expect and how the negotiations will go.  I explain the contract so the client understands the terms.

Step 2.  I prepare the buyer or seller for the worst case scenario.  A negotiation is generally based on give and take, trying to find a happy medium for all parties.  By being prepared, an expectation can be set for the process and possible outcome.

Step 3.  As your Realtor®, I research, prepare and plan.  I prepare by gathering information, which can come from my client, the other agent, the tax records, and past history of the listing. Knowing what’s most important to one or both sides can better accommodate a winning outcome for everyone.  All of this can play a part in the negotiation process as I prepare and plan my strategy when various information is revealed.

Step 4.  Simple courtesy and integrity are important when negotiating for my clients.  I treat others like I expect to be treated…with respect.  This goes a long way in  this business.   Some agents have a reputation of being a bully at the negotiation table…there are ways to have a win/win outcome without bad behavior.

Step 5.   As your Realtor®,  it’s my responsibility to maintain objectivity.   Emotions can run high, but it is my job to to stay objective and to help you see things as they are.

Step 6.  To support the best interests of the client, the offer written should be one that is believed to be accepted.  Going back and forth more than twice will cause both the buyer and the seller to go into hyper-mode, causing un-due anxiety.  It is critical for your agent to know what’s most important to you as the client in this transaction.  By knowing this, will allow some give and takes, producing a win/win, signed-around contract.  In the end, buyers want to buy and sellers want to sell.

So, my original question:  Real Estate Negotiations:  How Important Is It?

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s