NEGOTIATE LIKE A NINJA

Becoming a black belt negotiator requires a meld of mind and practice, Michael D. Lee, CRS, GRI, said at the 2007 Realtors Conference & Expo in Las Vegas. Lee, author of “Black Belt Negotiating,” says he keeps his skills sharp by negotiating everything from the cost of dry cleaning his shirts to the price of a suit at Nordstrom’s. “Most negotiations are won or lost before you ever sit down at the bargaining table,” says Lee.
• Know your opponent. If you’re a listing agent, ask questions of potential buyers, such as how long they’ve been looking or how many offers they’ve made. If you’re working for a buyer, find out how long a property has been on the market and if there’ve been any price reductions.
• Identify vital striking points. Know what your clients’ wants and needs are, and understand the difference between needs, which are must-have items, and wants, which are optional and also negotiable.
• Adopt an effective posture. Enter the negotiating process with a friendly demeanor to set the tone for effective discussions.
• Block an opponent’s move with your own. If a seller asks a concession from your buyer, for example, don’t agree without first asking for a seller concession in return.
• Stay calm and mentally focused. Once negotiations have begun, “distance yourself from the battle, don’t get emotionally involved,” says Lee.

Source: REALTOR® Magazine Online
© 2007 FLORIDA ASSOCIATION OF REALTORS

Questions, comments or suggestions on this article? Have a news tip? Send a letter to the editor to: Newseditor@floridarealtors.org.