Saturday, September 8, 2007

Successful real estate agent - Negotiating to profits

REAL ESTATE AGENT - DAZZLING SKILL .........
NEGOTIATING TO FULLEST FOR COMPROMISE

If real estate agent really think that the business are just about selling and marketing your properties. Then, agents better think twice. If we go deeper to the art of selling, the main key to close a deal is when both parties are compromised. To achieve this , it will all depend on the negotiation's skill. The tactic that induces potential buyer to accept your "preferential" offer and yet, he feels that the transaction is completed in his favour.

Before we go into details on the art of negotiation, i want to bring up the importance of " first impression" when real estate agent meets up with the buyers. It is also going to decide whether there will be the next one. Bear in mind, agents only have one chance to do that, and make it as your best. Things like wearing a formal suite, addressing peoples correctly, on-time, listening carefully and etc should not be forgotten on the first meeting.

It not just ends there. Bad follow-up and not delivering on what have been promised will ruin the first impression. Home buyers may walk away from the real estate's deal , just like that. If everything is done perfectly, it will become the best advertising where customers spread good words on you, hence, it generates a lot of referrals to your business.

Back to the original issue, a negotiation's key function is to compromise, in your favour. One of the most common ways is to take an extreme position and bargain down from that position, but it shall not be too extreme until scaring off the potential home buyers. Real estate agent must keep in mind, the selling price that are going to offer will get both parties to the negotiating table and the extent of bargaining shall not beyond what agent can live with.

In other words, when buyers are looking for lower asking price , agents will appear responding in kind, by dropping selling price somewhat lower than the increase in offer price. For example, agent may foresee that average buyers want $1,000 discount on each of transactions, then he may raise the price by $1,000. Then, let the buyers bargain down to only that extent. This move will certainly ensure compromise of the deal and agents may end up netting a higher selling amounts.

4 comments:

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Greenleaf said...

Hi, I'm having Exam these few days. Sorry for late reply.

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About the "StumbleUpon" button in your posts. It can be done by copying all the stumbleupon code. Then, login to your blogger account. Go to "Setting", then "Formatting", then scroll down to the lower of the page and you can see "Post Template". Paste the "StumbleUpon" code there.

Save it. Then, everytime you write new posts, the "StumbleUpon" icon will appear.

If you are not clear, tell me at my blog. I will try to write a post about it this weekend. ;-)

Khalila Andisa Putri said...

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Good luck.
btw, nice article

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