7 Tips to Expand Your Negotiating Skills for Real Estate Success

By Todd Lebowitz

Whether it’s setting boundaries with new clients or getting down to the details on a contract, negotiating skills play a big role in any agent's success. While you’ve probably spent time carving out a unique approach to these discussions, it’s never a bad idea to brush up on your technique and add some new approaches to your negotiating arsenal.?

Anchor with Confidence

Leverage the power of the first offer. Studies show people tend to anchor on the initial number presented so it’s best to work to provide a well-researched, strong opening offer, which can subtly influence the final price.

Apply the "Yes Ladder" Technique

Ask a series of leading questions designed to elicit a string of "yes" answers. This creates a sense of momentum and agreement, making it more likely the other party will accept your final proposition.

Reframe with Positive Language

Negotiation isn't about winning or losing, it's about finding a win-win. Reframe objections by focusing on the value you bring and the benefits of the deal. Use positive language that emphasizes collaboration and solutions.

Don’t Be Afraid to Explore The "What If" Scenario

Planting seeds of doubt doesn’t need to be done in a manipulative fashion. Avoid any high-pressure tactics, but consider simply presenting a hypothetical scenario, such as if a deal fell through. By highlighting the potential drawbacks for the other party, you can nudge them towards accepting your terms.

Empower Yourself with Emotional Intelligence?

By taking a moment to understand both your client's and the other party's motivations, needs, and fears, you can gain a better perspective. Showing empathy is not a sign of weakness. Instead, it can build trust in your character and allow you to navigate emotional objections more effectively.

Leverage the Power of Silence

Give the other party time to consider your offer and respond. Filling silences can weaken your position and make you seem desperate. Especially in today’s busy world. Don’t let a lack of an email response within 24 hours allow your brain to jump to conclusions.?

Embrace the BATNA (Best Alternative To a Negotiated Agreement)

Strong negotiators have a BATNA. Know your walk-away point and be prepared to do so if necessary. This strengthens your resolve and prevents you from accepting a bad deal under pressure.

Negotiation is a dance, which at its heart employs positive human emotions like empathy and trust-building. By working from such a position, you can make sure all parties come away with a good impression of you and the outcome you desire.