THE ART OF NEGOTIATIONS
THE ART OF NEGOTIATIONS
“You don’t get what you deserve; you get what you negotiate.” In today’s competitive business environment, being skilled negotiator is more important than ever aside from being skilled at what you do best. Negotiation is an art that you can use every day in your life be it personally or professionally. Once you learn this art especially in Real Estate, you’ll have fun with it.
I just attended a course to be a Certified Real Estate negotiator last month. It’s a three part class and 16 hours each. I have been doing negotiations for years since I started my Real Estate career in 2006 especially during the height of short sales when you think of almost impossible transactions and countless negotiations with the banks and lenders. I never rest on my laurels and always strive for improvement to hone my craft regardless. You always have to learn something new and be a master; it’s been my professional goal in order to succeed. Most of the times, we think we know everything especially we have been doing it for years. Not in my vocabulary; I always feel proud that I learned something new which is different from what I do all the time. It maybe something that you do; but you just don’t know how to prioritize and categorize. I was so surprise as how structured the negotiation techniques that I learned. Some of it I have been doing for years but it could have been better if only I knew how to categorize and use my bullets accordingly. The tools are so powerful and it’s not just about winning the transaction but how to come out with a win-win situation to all parties without being argumentative.
Dealing with home buyers and sellers all the time; this is one tool that I can teach my clients to get the best in the transaction. I don’t mean the higher $$$$ in their mind but for homebuyers and sellers to understand how to deal with it and feel better about it. Buyers and sellers naturally want to get what they want and concentrate in a small box on what is good for them. They did not realize, their best benefit is outside the box which they missed opportunities because of that. It is my duty to set them straight by opening their eyes to see the big picture. For example, a seller that thinks he knows it all, how much he wants and rejects Realtor’s recommendations as to staging, marketing etc. They don’t usually mean to offend but they want a detailed explanation as to the process you will be taking to assure them that they’re in good hands. This will increase the chance of productive relationship and a successful transaction. In buyer’s perspective, they always want to get a lower price than the asking price. It doesn’t matter if the price has been reduced and lower compared to the other homes being sold recently in the neighborhood. They feel good knowing they purchased something with a big $$$ discount. However, they forgot to look at the details as to condition of the house, location etc.
To be able to negotiate better and be good at it, get all the facts to know where you stand. You cannot negotiate unless you know where you are coming from and learn how to get there. Negotiation is an art and your creativity plays an important part to get what you deserve.
Note: Jocelyn Porteria is a Realtor® licensed in VA. Top Producer of Fairfax Realty and earning Five-Star Reviews from her clients. She earned a designation of ASP, Accredited Staging Professional; ABR, Accredited Buyer’s Specialist; CDPE Certified Distressed Property and Short Sale Expert, (SFR) Short Sales and Foreclosure Resource. For more info, visit her website at www.jprealdeal.com and on Facebook https://www.facebook.com/realdealconsulting. Call her at 571-432-8335 or email at firstname.lastname@example.org for free confidential consultations.