As a new agent in real estate, learning negotiation skills should be high on your list of priorities. After all, if you can’t negotiate effectively for your client or yourself, you won’t last very long in this highly competitive field. But let’s say you have been in real estate now for several (or many) years and have never had any formal negotiation training. You have done fairly well – at least you are still in the business! Will learning professional or advanced negotiation skills help you reach the next level? Can investing a few hours in high level skill training make a difference in the results you get for your clients and yourself? Without question – YES!
Ask successful agents about negotiating and you will hear common themes in their responses. “You have to know how to negotiate or else you won’t get paid.” “Knowing how to negotiate and influence others is the most important skill in real estate.” “Sure negotiating is important but you have to learn through experience.” “Knowing how to make the right first offer or the right counter offer is critical to getting the best agreement.” “Negotiating is what we do all day long with each other, with our clients, and with third parties.â”
If you ask agents who struggle in real estate about negotiation training, you are likely to get very different answers. “Negotiate? We don’t really do that. We just fax offers and counter offers back and forth until we get an agreement.” “Negotiating is what lawyers do!” “My broker says not to worry. Everything will work out.” “Negotiating? We’re in sales!” “You mean like a used car salesman?â”
As a fiduciary agent, what do you think your clients expect from you in the way of negotiation skills? “I take it for granted that my agent will negotiate the best deal for me. That is what I am paying her for.” “Of course negotiating is important. I expect my agent to be very good at it.” “I don’t care if my agent knows anything about negotiation. I’ll take care of that part of the deal.” “I’m sure my agent got plenty of negotiation training in real estate school.” “My agent works with her broker to help get me the best deal.” “My agent will bring me all the offers and I will decide how to respond myself.” “My agent and I will decide together how to respond to any particular offer.” “I rely on my agent to recommend the best approach to negotiating.”
So, what difference would really good, solid negotiation training do for your results? Would it help you get more listings because you would make better listing presentations and handle Seller objections better? Could you get higher listing commissions because you have strong negotiation skills? Would it help you deal more effectively with Buyers because you would be able to influence them more easily? Would you convert more sign calls because you know how to use effective influence principles? Would you put together better deals which would lead to greater client satisfaction and more client referrals? Could you negotiate performance bonuses with both Sellers and Buyers if you had better negotiation skills? Could you get higher referral rates or negotiate higher co-brokes with improved negotiation skills? And what about higher commission splits with your broker if you’ve had negotiation training and he/she hasn’t?
In the corporate world, people who negotiate for their companies are given professional negotiation training either in-house or at a negotiation training company. People who negotiate big deals receive big training! Most major colleges/universities have negotiation training classes/programs. If you search “negotiation training” in Yahoo! you get over 3,500,000 search results! Negotiation training is required by those who negotiate professionally and guess what you do in real estate? That’s right, you negotiate professionally for your clients and yourself!
So, do you invest in negotiation training or not? Do you take what you do seriously enough to learn professional negotiation techniques that can literally make you and your clients thousands of dollars in return? Do you take your fiduciary responsibility seriously enough to learn new or better ways to protect and promote your client’s interests? Do you want to improve your chances of a successful negotiation, no matter what you are negotiating? If you do, then professional negotiation training is for you!