JUST DO IT, NEGOTIATATE: Strongsville Real Estate

By:CJ Harrington
Keller Williams Realty
Date:09-17-08

Negotiation is the one skill that can make or break a deal. You may believe you already know all there is to know about this topic, but any good agent knows that there is always room for self evaluation. They should know that in today's market the learning curve is raised and the competition is fierce, so when focused on always becoming a better agent or even a better competitor in today's marketplace it is important to know as much as you can about one of the skills that can really differentiate you from the pack. So, in the rest of this article, I will touch on some important tips to consider when you are ready to negotiate your next deal.Just like any great act or accomplishment, success really lies in your ability to take the first step. Whether it be climbing the great Mount Everest or simply setting up a community activity, the first action you take is what will really defines your results, and negotiation is no different. So, what do I recommend? Just do it. Yes, I am well aware that this sounds quite familiar, in the world of today's marketing, but it really is true. People who put off tasks till tomorrow generally just won't get it done, and honestly, how can you win a battle you never even tried to start. So, just do it, get out there and make mistakes, don't be afraid of the outcome, because you can win more battles overtime as long as you take the first step and try. Now that we have hopefully got you motivated to enter the game, let's move forward and discuss some topics on negotiation you might currently question.So, what about money? Often, most people are too shy to talk about money, and still others may think it rude or demeaning. However, when it comes to doing a deal in real estate, not engaging in "money talk" can be a very expensive business. Remember, there are lots of experienced negotiators out there, some may be the agent on the other side of the transaction and some may even be you future clients. If they see for a moment of a second that you are timid and shy about your presentation, trust me, they will take advantage of that fact. So, be ready and prepared, make common activities in life into negotiations, a good agent should not be shy about turning something that does not immediately appear to be a negotiation into one. For example, if you are ordering a few expensive things at the store, take this as an opportunity to be a negotiator. Simply ask them to throw in something for free or even reduce the price. Just because there is no sign screaming you can do it, does not mean you can't, and honestly, simply asking for something extra could result in a better deal. So, once again, don't be shy, and just do it. Practice is great preparation for the real thing.Now that we have you ready to negotiate, let us consider the number one area of failure in negotiation, getting emotionally involved. One huge mistake most amateur negotiators make is to become too emotionally attached to winning. They shout, threaten and demand to get their way. This is all counter-productive. Most deals are only possible if both people feel they're getting something out of it. If the person across the table feels attacked, or doesn't like you, they probably won't back down. Many people hate bullies, and will be more willing to walk away from a transaction if it involves one. So, keep calm, patient and friendly, even if the other person starts losing their cool. Make sure you leave any pride or ego at the door. You're much more likely to do well, and maybe you will even have the upper hand in this deal.So, you have now made the effort to negotiate, and are cool, calm and centered, what next? Don't be a sucker to the "rules trick". Remember, just because it has been written into the first offer or contract does not by any means make it the "rules". So, if someone sends you a contract to sign and you don't like it, don't be afraid to change it. There is no law that says that the other party is the only one allowed to add things to a contract. Furthermore, this highlights a common tactic used by experienced negotiators. They know many people are sticklers about following rules. So what do they do? They make up official sounding pronouncements and insist that "this is the way it's done" or "you're not allowed to do that". If someone starts trying to box you in by adding rules to the deal, ask them to provide proof that such rules really exist. So, like I said, just do it, question authority and know why.Now you should be bold and ready to charge any opposition, with the right strategy, but remember the little things count. So, never be the first person to name a figure. Often, you may find that you might get more than what you wanted by letting the other party speak first. Instead, start with a question like, "What's the budget for this contract?" Surprisingly, you might find that you will get more out of deal than you ever thought possible.So, when it is time to ask for a figure or what you want in a transaction, don't be afraid to ask for more than you expected to get. Once the other person's given their figure, even if it's much better than you expected, say something like "I think you'll have to do better than that". Don't be arrogant or aggressive. Just say it calmly. Remember, few people will walk away from a deal once it's commenced. So, let the other person feel as if they're winning by lowering your "unrealistic expectations" a bit at a time. Make sure to give yourself an out. This means, "don't' let them believe that the decision rests with you". Once a negotiation starts, most people want to get it over with as quickly as possible. Let their impatience beat them. One great way of doing this is to let them believe the person they're negotiating with isn't actually you, but some other "authority figure", the buyer or seller in your case. Say something like "Well, I'll have to talk it over with client before I can give you a definite yes". A skilled negotiator will always want to talk to the person who has the final decision, but don't let them do it. Say the person with the authority over the deal wants you to sort things out but still needs to have the final say. Tell them you'll discuss it and get back with an answer tomorrow. Ask them to make sure that's their best offer. So, once again, just do it, make them wait. Let them beat themselves. Finally, never act to interested or leave the other person feeling cheated. Remember, there is always another house and another deal waiting, no deal is worth losing your respect or character over. Many people try to take every last drop of blood from any negotiation, since it is now so easy to get more than they wanted. Yet, this is a big mistake. If the other person feels they've been cheated, it can come back to bite you. They may not fulfill their part of the deal, or refuse to deal with you in the future. Most negotiations should leave both parties feeling satisfied with the outcome. Be willing to give up things that don't really matter. This will often lead to a better deal for both parties and better deals in your future.So, in conclusion, always remember to make yourself accountable, just do it, and take the first step. Don't be afraid, someone has done it before you and you will do it again.

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