“In business as in life, you don’t get what you deserve, you get what you negotiate.” Which is exactly why you want an experienced negotiator representing you when you are dealing with a large financial transaction, including real estate. REALTORS® handle property negotiations on a regular basis. We consider many components to the transaction including; purchase price, offer deposit, possession, inclusions, terms and conditions. As well as any hold back clauses needed and renegotiations after inspections. We know what it takes to get a deal put together and factor in current market conditions. Our education and experience will get you the most out of the negotiation with these key tactics.
An experienced REALTOR® will have navigated similar situations previously. The volume of deals an experienced REALTOR® has completed allows them to stick handle almost any scenario.Experience equals confidence, and this enables us to put together a strategy to accomplish the best possible outcome for our clients. We are fully prepared and not going in blind; we’ve done the market research, know the comparable properties and are aware of what a reasonable expectation is.
Another asset that comes with experience is handling multiple offers. Whether you are on the buying side and competing with another offer or the seller, experience in these situations is extremely important to ensure the process is carried out properly and legally. Agents working together through these situations ensure all parties involved are represented fairly and with proper due diligence.
Read the opposition and listen to them. Listening is a key strength in any negotiation. We want to gain an understanding of what is important to the other side, where there is some flexibility and what limitations they have. What have they revealed to us and how can we use that to our advantage. Do they have time constraints? What leverage do we have? What alternatives do they have? Knowing what information is important to consider helps you make informed decisions and allows us to make strategic responses. Talking too much and trying to control the situation will not grant the desired outcome.
Remove the emotion and focus on the end goal. Although we do have skin in the game, we are able to remove any emotion from the transaction. Our focus is to figure out how to obtain our clients wishes andnot get ahead of ourselves, one step at a time. We are on the roller coaster with you, but are in control of it. We understand the dynamics of the transaction, allowing us to maintain control at all times whichtakes some of the stress off of our client.
You don’t want to risk leaving money on the table because you failed to maintain control and let your emotions get in the way of the bigger picture. We make sure that doesn’t happen, our primary concern is always our client’s best interest.
Keep it professional and ensure all parties involved are satisfied with the outcome. Without compromising our clients bottom line we want to make sure everyone is happy with the outcome of the negotiation at the end of the day. This keeps the rest of the deal running smoothly and prevents any negative feelings from a party that could potentially sour the deal down the road. REALTORS® act as the buffer, if you will. Keeping things professional and not revealing a knee jerk reaction to the opposition. If the other party is happy, they are more likely to complete the transaction in a timely manner with fewer hiccups. It’s not always about “winning” the negotiation but about getting our clients what they want and moving them forward towards their real estate goals.
“You’ve got to know when to hold ‘em, know when to fold ‘em and know when to walk away”… you know how the saying goes. If the terms of the deal are not to your liking then it’s your call to walk. But first, prioritize your goals and be aware of what you are willing to compromise on. Your REALTOR® will help guide you, set expectations, put together a plan and a strategy to accomplish your desired results. You can confidently proceed knowing an expert has your back and has considered all angles of the situation.
KAILEY HEINTZ – REALTOR® – JC REALTY REGINA
Team Driven. Client Focused.