If that is true, then why are so many agents lousy at it?
Ultimately it comes down to fear of loss.
The trick with negotiating, is to not take things personally or get attached to the outcome. Easier said than done when negotiating on a home. It doesn’t get more personal than that.
I’ve had clients who were master negotiators in their business fall to pieces in their real estate transactions, because now it’s not business, it’s personal.
And I’ve seen agents go in to meet with clients and fall apart when negotiating their fee, because it’s personal.
In both scenarios we are afraid of losing out.
The other thing I see happen is that as agents we get too tied up in which decision our clients “should” make. We lose sight of the goal, which is to help our clients make the best decision for them. Even if it is not the decision we would have made or think they should. We are too attached to the outcome.
Here’s a concept that I learned years ago, that has made all the difference in my negotiating.
Committed, but not attached.
Being 100% committed to giving your client the information they need to make a decision, but not being attached what the decision is. Otherwise known as the outcome.
Here’s what happens when you embrace this concept:
- You start showing up as a professional: No longer are you the icky sales person just trying to close a deal. You are a professional consultant with valuable insights for your clients.
- Your clients will respond to you differently: When you consult: meaning, give them all of the information they need and potential for outcomes vs. sell: meaning, focus all of your efforts on closing the deal, you will find a deeper level of trust and respect in your client relationships. All of a sudden things get much easier and more fun, regardless of the outcome.
- You sleep better: Once you have given them all of the information they need for a decision, your job is done. Regardless of the outcome, you know that you did your job and you did it well. No more sleepless nights fretting about whether the client is making the right decision. It’s their world and their decision. That is their job.
In your next negotiation ask yourself: Have I given my clients all of the information they need in order to make a decision?
Asking yourself this question before you meet with your client will also help you prepare better for the appointment. Always a plus.
To your success!