Every real estate agents spends a good deal of time negotiating. It might be a little haggling with the buyers to go in half on a sump pump for a home or a full-blown, knock-down, drag-out fight with another agent over multiple offers.
Whatever the case and no matter how experienced you are…you can often sabotage your work with careless and silly mistakes.
Mistakes I’ve seen even veterans make.
It’s going to happen. You are in the heat of an exchange and out it pops. This is why you need to be aware and alert.
So let’s look at four phrases you should never use.
“Go to hell.”
It’s easy to get offended. Someone insults our hard work and out pops a snide comment that means nothing less than you wish they were dead.
You might be right, but the problem with this is you’ve just burned down that bridge between you and that other person.
If it’s a client…say good-bye to any trust or rapport you’ve built up with them. If it’s another agent…watch your back. You will more than likely have to work with that person again…and it might not be pretty.
“We’re getting close.”
Signalling to the other side that you are getting tired of the negotiation and you would love simply to come to an agreement is a nothing more than a white flag that says, “I surrender. Come pillage me.”
A negotiator who knows what he is doing will stall and ask for more concessions.
And since you’ve imposed this imaginary deadline on the negotiations you are going to feel pressured to give you because, man, you just want this to be over with!
Don’t do that.
Instead, give your opponent the feeling that you have all the time in the world to close things. Let him or her get fatigued. And when they say, “I think we’re getting close,” come in with your concessions.
Never offer a range–whether it is a price or a date–when it comes to negotiation. If you the person on the other is naturally going to choose the one most beneficial to him.
For example, if a buyer wants to know when he can move in, the wrong thing to say is, “Between December 2 and the 20th.” Why wouldn’t he choose the earliest date?
If a seller says that he would let the house go “between $505,000 and $515,000″ any sane buyer is going to offer the lowest price. Using a range concedes negotiation ground without a return concession. Don’t do it.
“You make the first offer.”
Conventional negotiation wisdom always says that you never be the first to name a price. Let the other person do that. That way you understand their position and actually have an advantage.
It may be way higher than you expected…or it may be way lower.
Well, new studies are beginning to reveal that the first number has a way of grounding the conversation.
In other words, even if the number you offered is way higher than what the other person expected you may still get it because they now feel obligated to work around that number.
So, if you have the chance, be the first one to make the offer.
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