While there may be a select few clients who thrive on the negotiation process, it is much more likely that this is the part where your clients are going to either freeze up or just get frustrated.
Of course, this is completely understandable.
Negotiating over buying or selling a house is an unfamiliar experience for most people, and the uncertainty of whether or not a deal will get done can add a tremendous amount of stress.
In order to better coach your clients during negotiations, you are going to want to form an honest bond that assures them that you are both on the same team, working together towards the same goal.
Here are five different ways to reinforce that idea with your clients:
Keep Calm and Negotiate On
It might sound like a cheesy pop culture reference (because it is), but keeping calm and focusing on the task at hand is key when it comes to coaching your clients through a real estate negotiation.
Whether the negotiations take just a few minutes or are drawn out over a few weeks, your clients are going to get frustrated when they don’t get exactly what they want. It’s your job to remind them that this is just part of the process and that they always knew they could expect to meet in the middle somewhere.
Have More Information
The best coaches on any topic are usually the ones with the most information. When it comes to real estate negotiations, information is king. Make sure that you have the most current and relevant information about the local market.
This comes with experience, but agents who work hard will develop a sense for what types of negotiation tactics will work well in different situations. Having a solid knowledge base will give you and your clients the upper hand while negotiating.
Maintain a Clear Vision of the Bigger Picture
Your clients all start out their negotiations with a clear vision of what it will look like to complete the deal and either buy or sell the property in question. Make sure that they do not lose sight of that outcome when things get heated.
Sometimes, the best coaching a real estate agent can do is to push their clients a little further than they expected in order to ensure that they get the outcome they truly desire.
Don’t Push Them Past Their Comfort Zone
While you may have to push your clients a bit, the best coaches also know not to push too far. If your clients find themselves operating outside of their comfort zones, they might just freak out and walk away from the entire deal.
Some clients will be so focused on the end result that they will be willing to go to extreme lengths to get there. This is where it is your job to reel them in and remind them that there are other houses to make offers on or other people to buy their listing.
Understand the Other Side’s Perspective
Another powerful tool in coaching your clients through negotiations is to paint them a clear picture of what is motivating the people on the other side of the table. Putting yourself and your client in their shoes can help you see creative negotiation angles you might otherwise miss.
Of course, at the root of great coaching is the ability to encourage your clients to make good decisions without actually making those decisions for them.
This can be more of an art than a skill, but with a little practice and plenty of experience you can become an excellent coach in any type of real estate negotiation.
Need more help with your client negotiation efforts? We have a huge management team with plenty of coaching experience that would love to help you! Contact us today!