I have studied the negotiation model in real estate that $1M agents use and here are the 10 undeniable Laws of World Class Real Estate Negotiation:

 

1. When receiving an offer from a buyer, always react with a sense of surprise that you were expecting a higher offer. Never ever act pleased with the offer as it is unlikely you will able to get the buyer to increase it.

2. The best chance of getting a buyer to increase the offer is there and then – at the first offer.

3. You will resolve 80% of the critical issues in a negotiation in the last 20% of the time in the negotiation.

4. Never negotiate with a person who does not have the authority to approve the deal.

5. The person who most wants the negotiation to succeed has in fact, the least negotiating power.

6. No matter how badly you want to put the deal together, you should always appear neutral and not needy.

7. Walking out of a negotiation is in fact just another way of negotiating.

8. You will never truly know what the final offer or acceptance would be until you get up and walk away from the deal.

9. Never begin a negotiation unless you are clear what you will do next if the other party says no.

10. No negotiation is ever final until the contract is done and signed.

 

The 7 figure Attraction Agent understands that negotiation is one of the major USP’s they bring to the table. An outstanding real estate negotiator can get higher commissions, close more sales, get vendors to accept more offers, increase a buyer offer more efficiently and frequently, and be known as the agent that gets the highest prices in their market.

 

Do you practice these laws? If so, would love to hear your stories.