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Email Post to a Friend: How to Negotiate like a Real Estate Pro

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October
6

How to Negotiate like a Real Estate Pro

Most real estate brokers fall into one of three categories when it comes to negotiations. Some are unaware or nervous. Others are savvy and prepared. And the rest land somewhere in between. To become a confident negotiator with successful outcomes, equip yourself with the following tools.

  • Determine your deal points
    Prioritize which terms are most important to your client and which are less so. Is it price or a specific deadline? Updated appliances? Identify where you would like to be in each priority area—and put that in writing to support meeting those points.

  • Ask about the other side's deal points
    By asking the other side to explain their deal points, you can find ways to work within a framework that will address their concerns, find solutions to their problems, and achieve their goals. You're bound to find bargaining chips that you can give up to get a concession of value.

  • Collect and leverage data
    The person armed with the most amount of information is more likely to win the negotiation. That's why forward-thinking real estate brokers focus on key data to inform an offer, including:
    • Recent sales of comparable homes
    • A property's location
    • Lot size
    • Neighborhood
    • Current market supply and time
    • Taxes
    • Homeowner association fees
    • Seller's point of view

Adding these practical tools to your arsenal can boost your negotiating confidence and support successful outcomes for you, your team, and your clients. At JJ Elek, you'll be a part of a team that sets you up for success. Contact us if you're interested in taking your career to the next level.

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