Becoming a successful negotiator takes time, but it’s an essential skill for a real estate agent. We have real estate tips that will help you master your real estate negotiation skills and close every deal that comes your way, even with a fluctuating market.
Your clients want you to advocate for them in any situation they face as buyers or sellers. You can gain their trust and win them over by showing them that you have the confidence as a skilled real estate negotiator to get them the deal they want.
Whether you’re a seasoned real estate professional looking to brush up your skills or a new agent, keep reading to learn how to negotiate real estate successfully.
Do your research
The more negotiating you do, the more skilled you become. But before you begin, you must know the market to ensure your clients are making or accepting the best offer.
Becoming an expert in your area will make local homebuyers and sellers more likely to engage with you. Network to learn more about other agents, such as certain habits and expected behaviors, before you meet.
Have a plan B
Even the most seasoned negotiators don’t always close the desired deal. To best serve your client, you should have a contingency plan. You can have other offers waiting if you’re representing a seller or similar house options if you’re representing a buyer. It’s better to prepare for a worst-case scenario than to start over from scratch.
Create win-win scenarios
Try not to think of a negotiation as a power battle, and avoid portraying it as one. Think of reasons that the negotiation will benefit everyone. If issues arrive, focus on the solutions rather than referring to the issues as “dealbreakers.”
Think of ways to compromise so that all parties are satisfied. More agents will want to work with you if they see that you are easy-going and willing to adapt. You’ll be considered a positive person in your field and more likely to get referrals. The more you stand out and the connections you make, the more likely you’ll be to close more deals.
Negotiate in person
It’s hard to interpret someone’s thoughts via email, text message, or phone. With these methods, no one is put on the spot, and people can second-guess their choices.
But in person, you have to respond quickly and make decisions. You can look at body language and facial expressions to gauge people’s feelings. You can also use your facial cues to instill confidence in your clients.
Whenever possible, schedule in-person meetings. If the client cannot meet in person, you can try meeting virtually first and then recommend planning an additional face-to-face meeting in the future.
Use affirmative language
Negotiations shift with people’s wants, needs, and emotions. Keep your interactions positive and remind your clients that they should keep trying to get what they want.
If you encourage clients to share ideas and concerns openly, you will build a rapport with them. Clients will feel heard, and if you continue to use affirming language, clients may even start to believe that your ideas came from them.
Using Virtuance to close more deals
You can take your listings to the next level with Virtuance’s professional real estate photography, powered by HDReal®. While the real estate market may not be stable, we can help you by adding a consistent, professional look to your brand that will give you the confidence you need to build your real estate negotiation skills and close every deal that comes your way.
FAQ
Being a skilled real estate negotiator will increase your business and help you close more deals. Knowing how to communicate with other agents to get what your buyer and sellers want is how you’ll maintain clients and get referrals.
Practice, practice, practice! The more you negotiate, the better you’ll become at it. You can also take classes or consult mentors or seasoned agents to learn successful negotiation strategies.
