One of the best parts of a REALTORS® job, in my mind, is the art of negotiation.
For over 20 years in real estate I have been honing my abilities to negotiate on behalf of my Clients towards the goal of getting them what they want. Negotiation is one of the king pins to why you should use a REALTOR® in the purchase or sale of your home. It should be a major factor in the selection of the REALTOR® that you choose to represent you.
Years ago when I was in Las Vegas obtaining my Certified Residential Specialist (CRS) designation. I attended a class in basic negotiation techniques. Real estate is rarely about a win or lose situation, but hopefully a transaction where the Buyer purchases the property for market value or under and a Seller gets a reasonable return on his or her investment. After all, a buyer will become a seller at some point in the future.
One thing that many REALTORS® don’t do when defining their negotiation strategies is to fully understand what everyone’s goal is. For example, you may have heard of the story of the two teenage daughters and the orange.
The Mom walked into the kitchen and the two girls were fighting over the one orange in the home. The argument had become rather heated, and rather than trying to understand the situation, she just grabbed the orange and swiftly cut it in half. She dispensed a half to each girl and briskly left the kitchen, convinced she had solved the conflict.
The girls immediately grabbed their half of the orange, one sectioning off the orange for a snack, while the other started grating the orange peel for a recipe she was making.
Had the mother defined the problem before acting, the solution would have been beneficial to both of the daughters.
Too often in negotiation we don’t take the motivations of each party into account. Perhaps a seller would consider a lower purchase price with a longer escrow or rent back.
By understanding the motivations of all the parties there is opportunity to negotiate successfully.