I play a few roles in life. I’m a husband, a father, a business owner, a professional speaker, a writer and a real estate agent. In wearing all these different hats, I’ve noticed at least one thing is consistent. Whether I’m trying to get a buyer and a seller to agree or simply trying to get my kids to eat their salad, the longer I live the more I realize life is one big negotiation.
In the real estate business, almost the entire process is negotiation. So if compromise, bargaining, and give and take are not your strong suits then you’re not going to have much fun during a real estate transaction. From the minute you decide to buy or sell a house, you’re negotiating. In fact, you were probably negotiating even earlier when you and your spouse discussed whether or not you’re going to move. Get passed that and the agent shows up, launching negotiations about list price, commission structure, showings and the open house schedule.
Yet with all that said, though, you don’t have to be a seasoned negotiation pro to succeed in a real estate deal. Of course, it wouldn’t hurt, but in case you aren’t and the thought of a real estate transaction breaks you out in hives, here are a few simple guidelines to help make your next one smooth sailing.
1) Make sure you and others are clear about the goal, the bottom line, timing and terms.
2) Know the facts. No one negotiates effectively without having hard data to back up their point.
3) Leave emotions out of it. That’s easier said than done when it comes to your castle, so if you’re unable, then make sure professionals negotiate on your behalf.
4) Be prepared to play the give-and-take game. You’re not going to get something for nothing.
5) Ask well-conceived questions so you can gather information about what the other side is thinking
6) Listen more, speak less and build rapport with the person on the other end.