Negotiation is a skill useful in every situation in life. Be it buying a house, car, deciding sleep time and play time with your children. Or reviewing salary or deliberating contracts. Your success in all these situations depends on your ability to get the best out it for everyone. A win-win situation that keeps everyone happy, builds trust and keeps them coming back for more.
Before negotiating any property for sale follow these tips;
1. Do your research
Use the RP data to keep yourself informed about the house prices, market trends, and growth prospects. This will help you plan the pitch.
Helps learn about the market, the openings and the properties on the market. Networking not only enhances business opportunities but also promotes resource sharing, fact checking and load sharing. It also generates referrals and connections. Besides good will in cases where one estate agent specialising in residential properties may refer business to another dealing in commercial and vice versa. Besides, there is no harm in getting advice from co-professionals. Networking is one of the best real estate marketing methods you can engage in.
3. Plan Ahead
Enlist your goals and items you would like to discuss. Try to build a case about the property to get the best results. This lends a personality to you and the property you are discussing. Highlighting the salient features of the estate. Arrange a walkabout in the property to highlight your points.
All clients are not alike or easy so have a plan B. Ferret out their likes and dislikes before meeting them. This will help you capitalise on these points. Next enlist the possible outcomes and think about the course you would steer the discussion on. This way you go in for the negotiation focused and result oriented.
4. Shed the Ego
As it makes you say and do things that may make you feel powerful. Enticing you to tower over the rest but it also makes you selfish and manipulative. If you are looking to develop trust and deliver a win – win situation you will have to let go of your ego, amigo!! This will prevent you from alienating people.
Your ethical business practices, will win you the good will of the people. Making you trustworthy and dependable in their experience. Remain neutral and communicate the point that the deal is about “we” not “I”.
5. Discuss the concerns
If there are any concerns on your part voice them. This builds trust and communicates to the party that you trust them, inviting them to do the same. Be jovial, calm and affable. Discuss the problems, invite feedback and work towards a successful resolution.
6. Body Language
A positive body language takes you a long way and communicates your attitude. Your eyes, expressions and the way you hold your body communicates a lot without saying a word. Sit up straight, keep your elbows on the table. Hold an alert posture indicating that you are listening. Keep the eye contact, smile and nod to show that you are paying attention. Make an occasional input indicating that you comprehend the drift of the conversation. If you have a question, enquire so that the person can clarify and address it.
7. Talk less Listen More
Listening helps collect and process crucial information. This helps adapt your strategy and identify bargain points.
8. Do not hustle
Communicate the details of your position. Speak at an even pace. Pause between sentences to ensure the clients have understood you well and processed it.
9. No result? Do not panic
This is the time to step back and study the situation and why the deal did not go through? Was it the offer, the client or you or something else? Place your proposal in clear sincere most terms and back off. Leave the door open, let the client think and take their time.
10. Analyse & Correct
Revise the meeting, analyse why it failed. Correct your weaknesses and build on your strengths and apply the learning to the next meeting.
No matter at which stage you are in your life, a positive mindset, surrounding yourself with the right people and improving those set of skills you need to become successful are ingredients for success. And do not forget the saying “knowledge is power”