Negotiation 4I tell agents all the time that it’s not more leads they need, it’s learning how to close leads that matter. As agents, we spend a great deal of time and money to get leads. However, unless we become experts in negotiating, time and money is wasted.

We sell homes. This is our main job. My greatest recommendation to agents is to focus on sales and negotiating training and tactics. This is the only way to increase your bottom-line. Here are three effective negotiating tactics to help you secure your next buyer and seller:

  1. Ask for what you want. You should know what your desired outcome is before you walk into any sales situation. Envision how you want events to play out and be prepared for success. Don’t be afraid to ask for the deal. The best sales people are assertive when it comes to their wants. Think of the last time you bought a car or sat in a timeshare presentation (they are good). Never walk away from the table without asking for the deal. I once played for a baseball coach who would say, “You never receive unless you ask.” 
  1. Stop talking and listen. The greatest sales book in the world is Dale Carnegie’s How to Win Friends and Influence People. If you’ve never read it, I highly recommend you do. If you have, read it again. I try to read this book every year. In his book, he highlights the fact that people like to talk about themselves the most, so let them. Consider the 70/30 rule. You should be letting the other party talk 70 percent of the time. You can answer many of their questions with a simple “yes’ or “no.” People will share all kinds of things about their needs and wants if you just let them. This will help prepare you to meet those needs and become a highly effective salesperson. 
  1. Do your homework ahead of time. Focus on learning as much as you can about the person you are about to meet. Think of yourself as a detective. A good detective gathers as much information as possible. Social media platforms, such as Facebook, Instagram and LinkedIn are treasure troves of information about people. Also, do as much research as you can about the things they are looking for as it pertains to their real estate goals. You should never feel like you are meeting a stranger for the first time. Familiarity breaks down barriers. 

Most of our training opportunities include CE classes, office meetings and Lunch & Learns. Most of these opportunities focus on industry training. You should expand your areas of training. Consider podcasts, Webinars, book, blogs, etc. on areas that enhance your sales and negotiating skills. This will give you a huge advantage over other agents, because most don’t know how to close prospects.

Also, consider attending our November 15 Six Figure Mind Shift Entrepreneur Summit for Real Estate Agents (www.mindshiftevents.com). For more great tips to enhancing your real estate business, order my new book, 21 Habits of the Highly Successful Real Estate Entrepreneur.

By Mike Weinstein, MBA