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REIQ Journal : March 2010
Rule 3 Research, prepare and plan Gain information from everyone and anyone you can, including your client, the other party and past sales records. Speci cally, you want to get answers to the following questions: Who's moving? Why? Where? When do they have to be there? Have sellers had any o ers? Have buyers seen many properties? How long have they been looking or on the market? When getting this information, be sure to respect ethics and laws. Also, instruct your clients to be careful of what they say about where they're moving and why to ensure they don't put themselves at a negotiating disadvantage. Rule 4 Gain the respect of all the parties with simple courtesy and integrity When people realise you keep your word, it gives you additional in uence in the negotiation. This entails: Showing up when you say you will; Calling when you say you will; and Doing what you say you will. Pretty straightforward, right? If you can follow through on your promises, it will set you apart in the marketplace. Rule 5 Maintain objectivity Do not talk about one party to the other except to say they're interested in the property or that they're obviously interested in selling. Very often when negotiations break down or get di cult, it's because the practitioner has shared his or her own opinion or inappropriate information about the other party. This can also happen if the buyer talks directly to the seller. Don't bring the buyer and seller together at inappropriate times. They may say something that's misinterpreted and o end one another somehow. Rule 6 Write an offer that you believe will be accepted Going back and forth more than twice makes both the buyer and seller crazy. Include everything you think is important to get the deal together. Prepare buyers and sellers for this in your initial presentation. These rules are a basis on which you can work to boost your skills to become a master negotiator. Rich Levin is a national real estate speaker and sales coach. His company, Rich Levin's Success Corps Inc., Rochester, N.Y., takes a "whole business approach" to coaching, focusing not only on essential sales skills such as presenting and prospecting, but also quality of life and personal nance. Reprinted from REALTOR® Magazine Online January 2010 with permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2010. All rights reserved. negotiating skills REIQ Journal March 2010 21 INDUSTRY PRACTICE