The Savvy Negotiator – 7 Tips to Get Your Client What He Wants (without alienating the other team in the process)

Jul
2011
17

posted by on Random (Un)Common Sense

I like to negotiate. I think it’s great fun, especially when everyone comes out of the deal thinking they “won.” Of course, that’s not always possible, but it’s an added bonus when it happens.

Anyway, here are a few negotiating tips from Jennifer’s negotiateSoulful Toolbox…

1.       Never, ever call the buyer’s agent and ask how the inspection went. Let him come to you.

2.       Never, ever call the buyer’s agent ON THE DAY OF LOAN APPROVAL and ask if the buyer, indeed, has loan approval. Call the next day. (Know why?)

3.       When negotiations get hot and heavy… withdraw. Dead silence from your end. Let the other side wonder if they blew it with you. Overnight.

4.       When negotiating, try not to make the other side feel bullied or cornered. Build in a slight “putz” factor when you can to give the opposite team a way to accept without losing face. For example, if your buyer asks for a $2000 credit for repairs and the seller counters with an unacceptable $1000 credit, go back at $1,800 instead of standing firm at $2,000.

5.       Always remember that the other side, whether buyer or a seller, feels vulnerable as well, regardless of their stance during the negotiations.

6.       You can always say NO. In fact, the other side probably fully expects you to.  If they want to buy or sell, your saying NO won’t kill the deal. And sometimes, bending over backwards to make a deal go thru can actually do more damage than simply saying NO.

7.       Almost everyone likes to negotiate, regardless of any claims to the contrary. As a buyer agent, do not submit offers with the statement “This is our highest and best – take it or leave it.” It won’t work. If you’re the listing agent, always find something in an offer to counter. Both sides want and need to feel the thrill of a successful negotiation.

 

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