2. • If you are a real estate
broker you need to know the
art of negotiation and
master it. Each stage of a
property transaction needs
negotiation skills.
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The Art of Negotiation
3. Recall the buying/selling event
• Phone prospecting
• Arranging a meeting
• Presenting a list of services
• Finalising on a listing
• Discussing marketing money
• Arranging a marketing campaign
• Qualifying buyers
• Dealing with offers and counter offers
• Closing a deal
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5. Be clear about your facts
When discussions are on
do not break the
momentum by being
unaware of relevant
information. Try and find
out all you can before the
deal begins. You should
come across as a person
who ‘knows’.
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6. Listen more and talk less
• Ask more questions and
do not assume. Each
sale is different so you
need to find out the full
facts.
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7. Try and look through the haze
• Sometimes a sales is
shrouded with a lot of
other issues that are
actually trifles. Look at
the bigger picture and
be clear about your
role.
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8. Be aware of your competition
• Make your case against
arguments about other
properties in the
market which are
reputedly better than
the one you are
marketing. Use more
benefits than features
to showcase your
property.
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9. Never be in a hurry to close
• Don’t negotiate in a
hurry as this will create
errors.
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10. Be sure to have a written
agreement
• In case of real estate
only the written word
holds good after the
discussion is over.
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11. Do not be in a hurry to respond
• A feedback or response
should be well thought
out. Client’s interest
should be the focus and
not your personal
views.
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12. Give and take is the policy
• During a deal between
a buyer and a seller,
give and take is the
policy, irrespective of
whose side you are on.
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13. Aim high with realistic goals
• Aim high from the
beginning but keep your
goals realistic. Do not
negotiate for something
that is not worth it.
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14. Confidence helps
• While negotiating, be
confident and show
your assurance to your
client through words
and body language.
Remember negotiating
and arguing are two
different things.
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15. Remember a successful negotiator doesn’t
mean he keeps on negotiating. You have to
stop negotiating at a point. So try to ask for
the possible and walk out if you don’t get it.
Don’t keep on negotiating.
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16. Daily practice will definitely hone your
negotiation skills. Practice and role play with
team members work to prepare you for the
actual deal. Be aware of the arguments that
may come up and prepare to counter them.
Also be ready with alternatives.
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