Top Tips for Successful Negotiations

Jun 16, 2015 8:00:41 PM

In each transaction, we strive for a win-win negotiation for the buyer, seller and both agents. At Family Reunion 2015 in Orlando, master faculty member and BOLD Coach Carl Battiste and agents Marvin Alexander, Torey Carrick and Beth Ernst shared their top tips for successful negotiations and the winning moves they rely on to close.

Build Rapport

Alexander, who in 2014 was named the No. 1 agent by transactions on REAL Trends list of Canada's Best Real Estate Agents, stresses the importance of prioritizing relationships above all else. “I’m a big believer that the most important first step is building rapport with clients,” he says.

“We tend to be so quick to list something or take the buyer out in the car, but what we neglect to realize is that them trusting you when negotiating the contract all starts with building rapport.” He suggests spending the first 30 minutes of a listing presentation focusing on building that relationship before you even bring real estate into the conversation.

“Step two is building rapport with the other realtor, not just your client,” Alexander says. “The other realtor is not your enemy but your colleague. They’ll share information about clients or motivation, and it’s remarkable what can become of that. Even if you don’t get a deal, that rapport will carry forward to another deal at another time.”

Understand All Sides

Ernst, who has a team in Des Moines, Iowa, tries to view the deal from each participant’s perspective. “So many people think getting a certain price is the goal, but buyers don’t set out to spend $300,000 on a Saturday; they set out to go buy a house,” she says.

Also, when working with both buyers and sellers, we have pre-discussions of the potential negotiations and offers and counter-offers because swift responses are very important.”

Rapid Response

Responding quickly can be key to getting the very best price from a buyer. To that end, Ernst makes herself available to negotiate all the time, even nights and weekends.

Are you interested in learning more? BOLD Coach Carl Battiste and agents Torey Carrick and Beth Ernst will be participating in KWU’s Family Reunion Encore webinar presentation on June 24 at 1 p.m. CST. Join them and register here.

Subscribe to the KW Blog