Negotiating for the Future

I just read a great, forward-looking essay by Saul Klein on inman.com entitled: "2015: Real estate agent of the future." (View it yourself HERE.) And I'm just wanting to carry on the conversation in this post for the sake of Sugar Pine Realty agents in the Mother Lode especially (but, of course, anyone from anywhere can tune in and follow along if they like). Klein talks about a handful of skills that will be crucial for the real estate professional of the future to master. Here are the five: 1. generational communication; 2. negotiation; 3. technology; 4. online social media and 5. writing. As I see it four of the five areas highlighted have to do with the ability to touch and stay in touch with an audience via the internet, ipod, hand-held - you name it. But the negotiation skill (#2) has to do with the bare bones buying and selling process itself. I was able to talk with a couple of Sugar Pine Realty agents and get their input on this whole area of negotiating. In our discussion they mentioned a number of things which I've whittled down and made into a sort of action list for quick and practical application. I call it:

NEGOTIATION HOT TIPS

(1) Create a winning situation for your client.
(2) Remember it's not about you, it's about them (your buyer or seller).
(3) Never show anger or become upset with your people.
(4) Point out the positives in a deal (versus negatives).
(5) Use buzz words/phrases honestly that encourage the process (ie. this house is worth every penny that they're asking for).
(6) Understand that both sides are in this thing to make it happen (when you come to a road block, ask: "What would make this deal happen for you?).
(7) Take the extra step to bring everybody back to the table when things fall apart.
(8) Return phone calls within 24 hours as standard practice (can make or break negotiation if you don't).
(9) Listen, listen and then listen some more (shows the focus is on the good will of the client and nothing less).

Of course, there's so much more to negotiation and the negotiating process. The bottom line is: how are you doing at it (or how have you done)? Do you see negotiating as a weakness or a strengh of yours? And if you see it as a weakness, what can you do to improve? Your answers to these questions and you're implementing of the quick list above will go far to keeping you in the real estate business both today and tomorrow.