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4 Characteristics of the Effective Negotiator

March 23 2016

lwolf Effective NegotiatorIn real estate, negotiating is part of everything you do. NegotiatingNegotiating is perhaps most obvious when you are at an offer presentation; however, you are negotiating every time you communicate with clients. And the truth is, negotiating isn't easy – it is an art that must be learned in order to improve closing success.

Many salespeople believe that successful negotiation requires a myriad of powerful closing techniques. But the characteristics of an effective negotiator go considerably further than knowing a variety of ways to handle objection. Great negotiators are people-sensitive; they understand the psychology, the needs and wants of buyers and sellers. They are aware of the atmosphere in the room and the effect it has on the overall presentation. Successful negotiators have honed their listening skills, demonstrate patience, are flexible and they are able to change gears when necessary.

Awareness – also defined as a 'sixth sense' that all good salespeople should have.

All negotiations are stressful, but being aware of a person's emotions and feelings will allow you to understand when to push for more and when to pull back, ensuring you get the best deal without damaging your relationships.

Listening

Listening is a subject that we hear little about – and one that causes problems for many real estate professionals. Have you ever noticed what happens when animals react to sound? They stand erect, motionless, their ears perked up and their total attention is focused on where the sound is coming from. There is a lesson to be learned here!

Statistics show that 75% of our waking time is spent communicating. At least 45% of that communication time is spent listening. In business, listening is often cited as one of the three most critical skills for success.

As a real estate professional, you should listen opportunistically, paying attention to everything your clients say and showing keen interest in what they say. Listening carefully to what is being said and being able to read between the lines is most important, because the information could be just what you need to find your client's "hot buttons."

Patience

Patience is a virtue, sounds like an old Victorian sentiment but it is an absolute requirement for real estate professionals today. Many years ago, salespeople were told, "When you get a client in the closing room, don't let them out until they sign."

Today, that rule no longer applies. Although we live in an age of instant gratification and everyone expects results quickly, expert negotiators in real estate understand that "quick" can mean trouble. People need time to absorb all the information that is presented.

Flexibility

Skilled negotiators are like chameleons: they change in order to blend in and be accepted. They are able to do this without ever being obvious. These professionals understand that once you attach your own personality to a presentation, the client will respond to your personality rather than the presentation.

Experts never let ego get in the way of negotiations; they do not want to be the star. The star of the show is always the client. It takes a very flexible personality to make this happen, but it is worth it: you will close more sales and earn more listings.

As a real estate professional, you meet different personalities every day. Negotiating experts have developed an ability to model themselves on the client's personality. They understand that clients will not change their personalities to suit their agent and if clients cannot work comfortably with a salesperson, they will simply find someone else to do business with.

Negotiation is a process in which you will improve only through experience. And trust us, we know it can be frustrating. Sometimes you may lose momentum and want to quit. Remember to stay positive. You will be amazed by what you are capable of when you have the help of a positive mind.

To view the original article, visit the Lone Wolf blogLone Wolf blog.