Negotiating Sale Notes_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
What? Commission Asking Price of Listing Terms Offer to Purchase Length of listing Offer to Purchase Counter Offers Just about everything . . . Notes_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Truth is relative Common misconceptions: We can always come down on price We should make a low offer or, we can always come up in price We shouldn’t take the first offer If we get our price, we left $ on table We net more when we save on commissions This is our bottom line Notes_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
What is generally TRUE It only works when it’s perceived as win-win The small stuff will kill you or how to buy a refrigerator Knowledge is power ‘Confidence through competence’ Seeing the end from the beginning Notes_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
What is generally TRUE People can handle the truth People will listen only after they feel that they have been heard You don’t have anything until it’s in writing Time is everyone’s enemy Notes_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Understanding Buyer/Seller Motivations The power of consequences can project & calculate downside risk Moving targets People don’t always say what they mean or mean what they say Perceived value of your service of their property Educating to the ‘rules of the game’ Winning the battle--losing the war Notes_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
The Process In summary: B. E. E. P. R. 1. Build relationship (Making the Connection) 2. Establish expertness (Confidence through competence) 3. Educate to industry position (appropriate Positioning over time) 4. Presentation (A tailored marketing program / Contract) 5. Regular feedback & follow-through Notes_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
How do we build rapport? Create similarity Visually? Vocally? --- Mirror Vocally? --- Pace Verbally? --- Ask questions --- ‘Structuring verbiage’ Notes_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Categories of Interaction Proposal Build Support Disagree Defend / Attack Giving Information Notes_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Categories of Interaction Proposal Build Support Disagree Defend / Attack Giving Information Testing Understanding Summarizing Seeking Information Matching Notes_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Research Notes_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Negotiation Research Counter Proposal Defend / Attack Irritators unskilled skilled Counter Proposal 3.7 1.3 Defend / Attack 6.8 1.6 Irritators 10.1 2.1 Notes_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ Seeking Information 9.1 21.7
Negotiation Research Test Understanding Argument Dilution Building unskilled skilled Test Understanding 8 18.8 Argument Dilution 3 1.6 Building 1.7 4.9 Notes_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ Comment Labeling 1.2 5