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Negotiations: Buyer-Seller Not Most Important

For a successful real estate business, everyday negotiations carry more weight than ones done on behalf of clients – such as seller negotiations to “trust me with your listing.”

NEW YORK – While real estate agent-mediated negotiations between buyers and sellers are foremost in the mind of most people, everyday negotiations are even more important for agents, according to Amherst Madison founder Nick Schlekeway.

For example, the ability to succeed in negotiations to convert a lead into a client predict agent success far more accurately than their ability to convince a listing agent that their seller should bundle incentives into deals.

Negotiating with yourself “is the most important negotiation you will ever engage in and with the most fierce counterpart,” according to Schlekeway. “The self-discipline to consistently win these negotiations with yourself is what makes the difference between winners and dreamers.”

Winning negotiations with leads requires agents to consider strategies that will:

  • Earn them a prospect’s contact information at an open house
  • Convince buyers or sellers to take an in-person meeting
  • Coax buyers to work with them exclusively
  • Persuade sellers to list their home with them rather than other agents they know

Agents also need to successfully negotiate with sellers after they’ve got the listing, with a focus on prepping the property, and negotiating the commission and the listing price.

And there’s more: Negotiating with buyers and strategic partners like photographers, lenders, stagers, and repair professionals is also critical.

“Your ability to navigate these negotiations successfully will determine whether or not you get clients to work with you in the first place,” Schlekeway concludes.

Source: Inman (10/07/23) Schlekeway, Nick

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