Blog: The Negotiation Edge

Modern real estate agents face an unprecedented market. Right now, there is a shortage of inventory that has never been seen before. As a result, houses are selling for $200,000, $500,000, and even $1 million over the asking price. 

To close deals in this market, agents need to rewire how they think when representing a buyer and negotiating on their behalf. 

When it comes to real estate negotiation—whether you’re representing a buyer or a seller—the first thing you want to do is understand what your client is thinking and ensure they feel understood. 

Doing so starts with a Cold Read, in which you look at your clients, size them up, and then use Labels™ to have them tell you what’s on their mind. 

If you’re representing a buyer, you might say this after a Cold Read: It seems like you really want this house. If you’re representing a seller, you might say: It sounds like getting top dollar is what’s most important to you.

Whether your calculations are correct or not, your client should give you more information to help you better understand the lay of the land.

If you want to become an expert real estate negotiator, read Never Split the Difference.

Seriously. 

After you’ve done that, keep these five tips in mind to sharpen those skills and solidify your status as a world-class realtor who gets the best deals every time.

If you want to get to the next level as a real estate agent, you need to improve your negotiation skills. It’s really that simple.

Real estate agents spend the bulk of their days negotiating with all sorts of people, including clients, appraisers, inspectors, and other agents—which means they need to be exceptional negotiators to succeed in the industry. 

By taking these four steps every time you make a deal, you increase the chances you get the negotiation outcomes you’re aiming for.