How to Increase Your Negotiation Skills

How to Increase Your Negotiation Skills

Negotiation is an imperative part of real estate and following these tips will help you increase your skills within it.

negotiation skillsIn real estate, much like in any business, negotiation is a key aspect in closing a deal and working with clients. One must have a strong skill set in the art of negotiation and know how to apply it properly. So much of real estate is negotiating with others – prices, listings, contracts, etc. It is crucial to know how to use this talent in a suitable manner.

1. Relay bad news in a positive way.

Being the “bearer of bad news” comes with the territory of working in real estate. Sometimes a house is listed at an unreasonably high price and you’ll have to bring the seller back to reason. Or sometimes an indecisive buyer will be in danger of losing a contract to someone willing to pay more. If this news is spoken in a positive demeanor, the client will be more likely to listen to you. Being too assertive with difficult information can be off-putting to a client.

2. Show respect but keep the power in your hands.

It needs to be clear that you are the professional and you know what you are talking about. However, respect goes a long way in any profession. If a client is arguing with a proposed solution, it is important to put yourself in their shoes and let them know that you understand their distress. If you come from a place of respect and understanding, it is probable that your client will follow your directions.

3. Don’t allow too much flexibility on the other end – but avoid aggression at all costs.

This may seem to go against what you learned in training. The ability to remain flexible is a strong attribute to have, but allowing for too much shows a lack of authority. Keep options open but don’t let your client run wild with malleable contracts or pricing options. Maintain a strong influence on what you expect from your client, but don’t let yourself become too pushy if changes need to be made.