{"id":2619,"date":"2021-11-08T16:00:00","date_gmt":"2021-11-08T16:00:00","guid":{"rendered":"https:\/\/www.realtrends.com\/blog\/2021\/11\/08\/negotiate-a-real-estate-win-between-buyers-and-sellers\/"},"modified":"2025-03-13T02:39:30","modified_gmt":"2025-03-13T02:39:30","slug":"negotiate-a-real-estate-win-between-buyers-and-sellers","status":"publish","type":"post","link":"https:\/\/www.realtrends.com\/blog\/2021\/11\/08\/negotiate-a-real-estate-win-between-buyers-and-sellers\/","title":{"rendered":"Negotiate a real estate win between buyers and sellers"},"content":{"rendered":"\n

Homebuyers and sellers hire you for your market knowledge, expertise, and, most importantly, experience at the negotiating table. That’s why, \u201cAm I getting the best deal for my client?\u201d is the question every agent should ask themselves as the home buying or selling process gets underway.<\/p>\n\n\n\n

Use these negotiation strategies<\/a> to strengthen your skills and ensure your clients are satisfied.<\/p>\n\n\n\n

Listen<\/h4>\n\n\n\n

Good negotiators search for common ground to bring two parties together. There’s no such thing as a win-win, but you can get to a deal compromise that satisfies all parties. Ask probing, open-ended questions that deploy the 90\/10 rule: listen 90% of the time and talk 10%.<\/p>\n\n\n\n

Work with the other agent to find out what\u2019s important to the other party \u2014 beyond why they may be buying or selling. Do they need a fast close? Do they have contingencies? Are they selling an investment property<\/a> taking advantage of 1031 exchange or a long-time family home? Are they new to the area, or familiar with the community? Finding out the \u201cstory\u201d behind the transaction provides you with empathy (and leverage) to craft the best transaction for all involved.<\/p>\n\n\n\n

Finally, keep your ego in check at the negotiating table and listen carefully before reacting to any statements. Tempers can easily flare during a negotiation, especially if one party feels unheard. Let people make their case completely before responding with a counter offer or moving the conversation forward.<\/p>\n\n\n\n

Negotiate in person if possible<\/h4>\n\n\n\n

Face-to-face negotiations allow you to better observe body language and tone of voice and leaves less opportunity to misinterpret someone\u2019s intended meaning the way written communication via email or text can.<\/p>\n\n\n\n

 A virtual meeting or phone conversation is a next-best option when busy schedules or long-distance transactions don\u2019t allow for in-person contact. Remember that negotiations don\u2019t need to be completed in a single meeting; it may take more than one meeting to work out the details. Save the written communication as a final step once you\u2019ve worked out the details.<\/p>\n\n\n\n

Do more research than the other side<\/h4>\n\n\n\n

Do your research and let the data drive your negotiations, as it\u2019s usually the side with the most information that wins the day. Agents who leave money on the table usually haven\u2019t done their homework, so be prepared. The more knowledge you have, the more you can leverage.<\/p>\n\n\n\n

Facts and data are hard to dispute: Whether buying or selling, gather as much information as you can about the property, including:<\/p>\n\n\n\n