Well after 28 years in the forestry business, I changed
careers. When my brother found out I was transitioning into the real estate
business, he said “Boy are you in for a surprise” Boy was he right! My job went from managing people and resources
to a position of marketing, contract negotiations and brokering deals. There
are some similarities in these task, they are negotiating and people skills. I
must say I came into the career quite unaware and in some ways unprepared. It
has been 8 years of learning on the job. This is a people business and I
believe the career breaks down into 2 categories:
1) People Skills – Let’s start with a definition - understanding ourselves and moderating our responses, talking
effectively and empathizing accurately, building relationships of trust,
respect and productive interactions. Generally people want to be treated fairly
and feel like they are important. In many instances we are working with a buyer
and a seller so both have to be treated with respect while keeping the goal in
focus…consummation of the real estate transaction. I really believe in the Golden
Rule, treat others like I would like to be treated. It works every
time!
5 Things That Will Help You Negotiate Better
1.
Listen - Listening is a fairly
underrated skill in today’s world. It’s so easy to assume what others are
saying OR finish what others are
saying for them. Listening entails making sure what you’ve heard is actually
correct.
2.
Seek An Outcome That Satisfies All
Parties - How many times are you so focused on getting what you want in a
negotiation, you don’t even think about the other person? Some times referred
to as “Win-Win”, look for commonalities. A win-win outcome really is the best
way to approach negotiations. When you can share a common interest or find a
common ground with another person, they'll have a harder time being
confrontational with you. Show real interest in the property they have for
sell.
3.
Broaden The Scope - Sometimes when
we're in negotiation we get so centered on the one thing—we forget
there might be other possibilities. For instance, if the seller won’t
reduce the price, they might consider paying some of the closing cost or
perhaps pay for the survey. Don’t get backed into a corner. Recognize that
people often ask for more than they expect to get!
4.
The Person With The Most Information
Usually Wins - This is a particularly important negotiation tactic for sales
people. Ask your prospect questions
about their motivation to buy or sell. Learn what is important to them as well as
their needs and wants. Plain and simple, be an expert in your market. I am a
‘Land Broker’ and I keep detailed sales data in the counties I work. Taking a
listing that is 30% over the market is a waste of time and besides, if an
uninformed buyer comes along, it will not appraise and the deal will fall apart
anyway.
5.
Maintain Your Walk Away Power – As a
seller or real estate broker it is better to walk away from a sale rather than
make too large a concession or discount your services. I recently had the opportunity
to list a large tract of land. The owner offered ½ the normal commission and I
walked away. Later I was able to negotiate a fair commission.
Well in simple terms to be successful as a realtor (or most
anything in life), 3 things will go a long way:
- Be honest with people
- Treat others like you like to be treated
- Work hard, that means going the extra mile, returning phone calls, be early to meetings
If you will do these things, YOU WILL BE SUCCESSFUL
For Information on Buying or Selling LAND, Call G. Kent
Morris, RF, ALC
at (706) 457-0090
