Get the best prices without being pushy.
Being pushy (or even being perceived as pushy) during a negotiation is like throwing a bomb into the process.
Contrary to popular belief, the best agents get the best prices not by being aggressive and pushy and demanding. The best agents do not coerce their buyers, sellers, tenants and landlords into unsatisfactory, likely to fall through, agreements.
The best agents are the best negotiators. And the best negotiators are invariably pleasant people.
They are warm, friendly and low-key. They are likable. They are the kind of people that you feel comfortable agreeing with.
The best estate agents are usually quite concerned about finding a solution or an arrangement that is satisfactory to all parties.
A lot of agents, however, think of negotiations as a battle. They want to persuade and convince and want to do it as fast as possible.
Before we go any further, whenever you’re in any negotiation remember (and communicate to everyone in the negotiation with you!) that it’s not a battle, it’s a process.
A great agent knows the best price starts before the property hits the market. They focus on the house. They’ll see the achilles heel, talk the client through why it’s going to be a problem and either fix it before it hits the market, or adjust the price accordingly.
Without this step, you’ll never be able to talk ‘best’ price openly. You need to have this crucial conversation early.
From here, great agents focus on relationships. The best question you can continually ask both sides throughout the process is “How can we help you?”
At the instruction appointment - “How can we help you?”
Taking an enquiry - “How can we help you?”
Qualifying a buyer - “How can we help you?”
Before the first viewing - “How can we help you?”
With the buyers at the appointment - “How can we help you?”
Reviewing feedback with your clients - “How can we help you?”
Taking an offer - “How can we help you?”
Negotiating - “How can we help you?”
We won’t go on…
Asking this question allows you to learn about people and really understand what they want out of the transaction. Once you know what matters to them, you’ll know how to help. If you don’t ask the question, you’ll only be pushing your own agenda.
Keep reassessing throughout the whole process. Constantly ask questions and work out what each party doesn’t want. Get as many no’s as you can. This shows empathy, builds trust and furthers your relationship.
You’re the expert.
Remember that. Communicate it. Use stories. You’ve been in these situations before. Chances are your clients haven’t. They want to hear that you know what you’re doing, and that you’ve been successful in the past by following your process.
Let them know what the perfect negotiation looks like. Then let them know that 99.9% are never perfect. But that’s okay because they’ve got you.
Two words to associate with great agents are professional and personable. One word we can use to sum these traits up is poise.
Poise gets you so much further than pushing.
Pushy agents don’t get very far. Agents with poise do.
Bringing it all together...
You’re always negotiating. Set this up with your clients from day one.
Teach them that 90% of negotiation is presentation, marketing, asking price (this is an anchor, not a ceiling) and great buyer service.
Do all of these well and they compound in your favour.
The psychology of a buyer is that they want to spend as little money as possible. Always. But when everything compounds, the time the buyer makes the decision that the home is worth what it’s priced at on their own.
Compounding gives a buyer ‘that feeling’. And when they get that feeling, buyers come to think it’s their idea that the home is perfect for them and they understand that (and are happy about) they’re going to spend more money.
That’s how great agents get the best prices without being pushy.