How to Negotiate Real Estate Deals

This is a challenging market to deal in real estate. Have we bottomed out or are there still tough times ahead? This question can’t possibly be answered but the fact is we have to forge ahead and make wise decisions as we strive to chase our passion. We must be prepared and growing in our profession to be successful. To that end, it is important to ask yourself if there is any part of the equation more important than negotiating the deal? This is where success is determined.

Let’s face it, we all can not be the Donald! You know, Donald Trump. Yet we must work at each aspect of our career to achieve our goals. John Wooden said in regards to preparation (and in this case, preparing to negotiate the real estate deal, “Failing to prepare is preparing to fail”. So then, let us look at the art of negotiating and a couple of tips we can use.

To be a good negotiator, you should:

Listen Perhaps there is no greater tool in negotiating than being a good listener. Listen through the negotiations for stressors. These are points that are important to us and will almost always cause us to use a higher pitch in our voice or maybe a higher volume in our voice. Listen with your eyes for expressions on the face as they speak. Catch those metaphors and know what they may be saying by using these word frames.

Take Notes Nothing shows more respect than to take notes as others speak. It says what you are saying is so important that I don’t want to miss anything! It screams respect to the point the other party will respect you to the same degree. If not, the notes will force a less than honorable person to speak with clarity and make them think twice before misleading you.

Get the Facts
Get all the facts. Know what the other party wants from this deal. When your first negotiation meeting is over, stop and in your mind ask yourself, what are the three or five things these individuals want here. Then ask them to recap the meeting with not only what they want to happen in the process but what you want as well. This will serve all well for the next meeting. Remember also that feelings and opinions are facts as well. They may not be facts to you but if they are important to the other person they must be considered as facts.

Communication Skills Communication skills are a must. If you have the right people with the right price at the right time it can be lost with a single wrong statement. All ways is improving your communication skills with every negotiation. Don’t deceive yourself; you can always get better no matter where you are at this time. Evaluate not only yourself but your opponent as well. There are some great resources out there like Toastmasters International and other clubs to help in communication. It’s worth the time and effort as you see great improvement in not only your negotiation skills but in other areas of your professional and personal life.

Advertisements

About Stephane Manos

Stephane Manos has developed several online companies. While working as an online entrepreneur, he fell in love with the sales aspect and recruited some of the best clients and affiliates the companies have ever had. The fun, he found was in building the connections and relationships. One of Stephane's top qualities is being able to motivate. He found a passion in motivating others which in return motivated him. Happy colleagues and clients would send word-of-mouth referrals and increase traffic to his online businesses. Teamwork is something that Stephane promotes. The focus is not on self or individuals but in working as a team to reach the same goals. It is his role as a leader to lead the team by example. Currently, his interest is in real estate investments and financial investments. He is now looking into emerging markets such as the Middle East. He also believes some of the better deals can be found in certain parts of the United States. Many distressed buyers are looking to liquidate. Developing new online businesses, purchasing commercial and residential real estate, and developing rentals has led him to travel around the world. Stephane Manos contributes a portion of his time and earnings to charitable associations and philanthropic groups. His charities are: -Children's Telethon -AHEPA brotherhood and Shriners -REVIVRE Bipolar Support Assocation
This entry was posted in Business, Entrepreneur, Real Estate. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s