Negotiating Techniques for Real Estate Agents and BrokersReal Estate Influence
May 18, 2012 — 990 views
It's no secret that the real estate market has seen its fair share of ups and downs since the housing crisis of the late 2000s. However, experts believe the market has recently become increasingly stable and is showing signs of improvement for the future. As a real estate agent or broker, it's now more important than ever to have your negotiating techniques and professional skills on point so your clients can trust you with this important financial transaction.
Sometimes it can be difficult to evaluate your own performance and negotiating skills when trying to get the deal closed. However, do your best to look in the mirror and determine which areas could use improvement so you can become the best agent or broker you can be for your clients. Negotiation skills are necessary to ensure your clients are satisfied and protected, while maintaining a full and well-earned commission for yourself. These skills are an integral part of a successful career in this field.
In many ways, negotiation begins the first time you are in contact with a potent client, Yahoo Voices explains. You must sell yourself as an agent or a broker and show them through your confident and outgoing personality that you are highly knowledgeable in the industry and local market. The source suggests taking a public speaking course if you could use improvement in your confidence level or body language.
Once you secure a potential client and find a home they like, you'll need to implement expert techniques while negotiating a purchase agreement. The National Association of Realtors offers some helpful tips for turning a negotiation into a win-win agreement. The source explains it's important to start with a fair asking or offering price based on recent prices of comparable homes. Understand that you will likely have to make compromises and by not approaching a transaction with a winner-takes-all prospective, you're more likely to focus on the top priorities.
Every skilled real estate negotiator can implement the delicate balance of give and take and should be prepared to do so. At the same time, be persistent to obtain what you're after in the best interests of your client and yourself. Yahoo explains you can hone your negotiation skills and earn a higher commission by considering a negotiation or sales tactics course at a real estate education center. The best in the industry never stop learning the newest techniques and never stop working to improve their craft - and neither should you.