Written by Maddie Jostol
Senior Marketing Manager, MoxiWorks
MILE 62 / 28
Know your end-game. Establish this prior to negotiations. Talk to your clients ahead of time about what their maximum or minimum is, what their non-negotiables are, and what their top concerns are. That way, you can help manage expectations with them throughout the process and continually remind them that you are their advocate. Buying or selling a home is an emotional process, and you want to have a strong understanding of what they’re expecting when it comes time to make a deal.
3. Have a goal in mind
Create an open dialogue, where both sides can share their goals and concerns. Get answers along the way so you can understand why the other side is countering the way they are. That way, when you go back to your client, you can not only debrief them on the result but share with them what led you all there.
4. Communicate
Rejection is a core piece of negotiating. You have to go into any negotiation prepared (and having prepared your clients) for a “no” so that you’ll be in a position to counter, remain positive, and continue negotiations productively. When you give something up, ask for something in return to maintain a level playing field. One method is to work with your client to come up with three asks. One should be a reach, something they’d get in an ideal world, and the other two should be things your client really wants. If the other side really desires to close, these are the things you’ll ask for and it’s highly likely they’ll be willing to work them into the deal. Stay resilient as long as your client wants to continue negotiations and working toward that middle ground that closes the deal.
Each negotiation is different, and everyone has a unique approach. Managing expectations and working toward a mutually beneficial solution are at the core of successful negotiations. Keep these tips in mind and continue to home in on those negotiation skills that get sellers offers they love, and buyers into their dream home.
5. Resilience is key