Whether you are a buyer or a seller, the market conditions in the last few years have been a roller coaster of lightning fast sales and multiple offers. Regardless of which end of the agreement you are on, you need a skilled negotiator in your corner to ensure that you are satisfied with the terms and conditions in the offer.
An expert negotiator will work diligently to help his or her clients achieve the following:
A Fair or Better Price: An agent should be willing to go to the mat to achieve a fair price or better price for his or her clients. He or she should be adept at market analysis and strive to land on a purchase price that is supported by the data and is satisfactory to all parties involved.
Calm Support: A good negotiator knows how to keep a cool head and to minimize emotional or impulsive decision-making. After all, for most people, their home represents their largest investment and the most significant financial decision that they will make in their lifetime.
Terms & Conditions: A strong negotiator will work tirelessly to seal a deal that will make their clients happy. From the purchase price to the closing date to the finer details of chattels and fixtures, having a skilled advocate in your corner makes all the difference.
KEY CHARACTERISTICS OF A SKILLED NEGOTIATOR:
Good Listener: Your agent should demonstrate strong listening skills. When sitting at the negotiating table, agents should be able to listen carefully to the responses that they receive to their questions. Good listeners achieve better results because they demonstrate a willingness to broker a deal with the objectives of both sides in mind.
Clear Communication: A strong negotiator effectively communicates what they hope to achieve or gain in the transaction. Instead of viewing open communication as “showing your cards,” a good agent sees it as a chance to improve the opportunity for both sides. When you hold your cards too close, you run the risk of stalling or derailing the negotiation and alienating the other side.
Flexibility…To a Certain Extent: An agent working on your behalf should demonstrate a degree of flexibility when negotiating. Before sitting down at the table, the agent should have a clear picture of what his or her clients are comfortable with and what they are not willing to bend on. The agent will likely shoot for the moon, but even if they miss, they will ensure that their clients still land among stars that satisfy them.
Powerful Demeanor: Skilled negotiators display confident body language that conveys their powerful character. Look for a firm handshake, proper posture, eye contact, a genuine smile and relaxed, yet assertive behaviour.
Silence and Patience: Someone who understands the art of careful negotiation also recognizes the importance of taking a pause or remaining silent. The ability to walk away for a few moments to collect your thoughts or at the very least, pause the discussion to re-group, is essential to making sure that the parties involved achieve their ends. Sometimes, time is needed to digest information and to carefully consider how you want to respond. The time that elapses may also make the other side a little jittery, which could end with a better deal for you.
Last Word: Buying or selling your home should not be left to chance. The importance of choosing the right agent to negotiate your deal cannot be overstated.
