Commercial Property Negotiations – Master Seller Key Negotiation Skills Today

Every day as a real estate agent you will be negotiating on something. It could be because of the listing, the advertising, the price, the closing of the contract or some unusual twist of a special condition in the contract.

It logically follows that you have to be a good negotiator to be successful in the real estate industry. Sellers who hire your real estate services expect you to be a great negotiator. They don’t want an ordinary seller negotiating the sale of their property.

While this is a simple fact of the real estate business, it is remarkable how many sellers have little or no negotiation training. They think they know how to make the tough negotiations; The reality is the opposite. Poor personal negotiation skills are the reason sellers lose the deal, the listing, the client, the buyer, the advertising money and the list goes on.

Let’s lay out some ground rules for trading in commercial property.

1. A good real estate negotiator knows what he is focusing on from the start. They know what the best result should be. They also know what the back position will be if they need it. They then lay out the trading plan in their minds before beginning the process.
2. Don’t give in too easily when negotiating when you hit a snag. Wait for the other party to pressure you. From this it follows that some parts of the negotiation must be non-negotiable. On that basis and with those elements, you should be prepared to walk out of the negotiation if the basic terms are not reached.
3. The first offer must be covered or delayed. In other words, don’t be too eager to accept your offer or make your offer. The other party will expect a challenge, so give him one.
4. Take the negotiation slowly and in stages. Have the other person speak and explain their position. The more they talk, the better it will be to suggest a compromise at the right time.
5. Ask lots of questions in the negotiation. It keeps the matter moving and the ideas following. Ask them to further explain their ideas or positions. Talking helps the negotiation process.
6. Much has been said about body language in negotiation. The skill is relevant to real estate activities and negotiations. Learn more about body language as it certainly comes in handy in most of your negotiation situations.
7. Take a series of small steps to get the other side to agree to minor issues in the negotiation. This helps the big final closure as you get to it.
8. Walk out of the negotiation if you don’t get the minimum result you’re looking for. It’s remarkable how things change in 24 hours.

Trading in commercial real estate is a common event; the more you do it, the better you get. Confidence and knowledge are the keys to being a great real estate negotiator.

Some of the most useful tools in negotiation are the use of words and your voice. The best way to improve them is through a simple voice practice. You can do this by reading a book out loud for 20 minutes each morning when you first get up. It is remarkable how this simple step can strengthen your dialogue and negotiation potential.

You may not always agree with some of the things you are negotiating, especially if it is an unrealistic price asked by a seller and you have to sell the price to the buyer. However, remember that it is your skills that the client is paying for, so improve your skills and your negotiation results will improve.

Develop your negotiation skills and use your property knowledge to support your negotiations. Facts and circumstances are the cornerstones of a good negotiation. Use the facts to weave the negotiation back to you and the results you seek.