Real estate discussions are challenging, as is well known. Clients frequently have to make some of the most significant decisions of their lives in a split-second while under the influence of strong emotions, money, and other factors. Agents must be laser-focused on honing their talents to advance in this competitive industry.
In light of the foregoing, let's examine four real estate negotiation techniques that realtors who want to clinch more deals must possess.
1. The Capacity to Speak with the Appropriate Tone
In the end, it doesn't matter how skilled you are if you speak in the incorrect tone. Your tone matters in difficult real estate talks. But regrettably, it's a talent that's disregarded in real estate.
Your tone may influence how your customer or counterpart feels about your deadline or the sale itself if you're agitated or in a hurry. Real estate brokers far too frequently come across as hurried and callous because they are so intent on getting to the next deal.
Although you might live and breathe real estate transactions, your clients likely do not. The best agents understand this perfectly, which is why they are always eager to slow things down. Using Tactical Empathy, you can slow down by pausing between sentences: This is going to sound like I’m rushing you. The listing agent just told me that the seller wants a decision now.
2. The Ability to Ask Proof of Life Questions
Eager to pick up new business, many agents are quick to offer value to prospective clients before knowing whether those clients intend to do business with them. In many cases, they think they’re the favorite (i.e., the agent the client wants to work with) when they’re actually the fool (i.e., the agent the client is leveraging to get a better deal elsewhere).
Avoid running into this conundrum by asking a Proof of Life question out of the gate: There are so many agents out there. Why are you considering doing business with me?
Once you ask this question, pause and listen. If your client gives you a robust response that restates your value proposition, you’re the favorite, and you’re good to move forward. If the client says something like, I don’t know, you tell me, it’s time to move on.
3. The Ability to Ask No-Oriented Questions
Many real estate agents are looking for one word: yes. However, they should avoid aiming for this most of the time. When agents search for a yes from their clients, they force them into a corner, making them lose their autonomy and triggering the fight-or-flight response.
Turn things around and ask No-Oriented Questions to shoot for no. When we can say no to something, we feel safe and protected. Over time, this helps agents develop trusting relationships with clients, making the ultimate ask much easier.
Don’t ask: Can I call you at 1 p.m.? Instead, try this: Would it be difficult to have a conversation with me at 1 p.m.? With this approach, you help your counterpart feel in control of the situation.
4. The Ability to Use an Accusation Audit
In any real estate transaction, the other side harbors any number of negative sentiments. Your client might think you’re not trying to get them the best deal, or the other agent might think you’re asking for too much on a listing. Whatever the case may be, diffuse these negatives using an Accusation Audit: You probably think we’re trying to lowball you. Maybe you think that my client is asking for too many contingencies in the deal. You might even wish we never got involved in this deal in the first place.
By calling out all of the proverbial elephants in the room before they inevitably materialize, you mitigate the negatives upfront, which helps build trust, making it much easier to close the deal.
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