When you’re buying or selling a home, you have a lot on your plate. There’s no shortage of decisions you need to make—including the Realtor® you want to work with.
There’s an abundance of things to look for during your search, and negotiation expertise is an important one. Given how it can impact your bottom line, choosing a professional who knows their way around the bargaining table might just be one of the best decisions you ever make.
Here are five reasons you should consider working with a Realtor® who has negotiation expertise…
1) They’re market experts
To become an expert negotiator, you must have a thorough knowledge of the local market. An agent who makes this a priority is always better equipped to help you navigate your purchase or sale than one who isn’t.
Recent data (including sold prices for local homes) can be leveraged during the bargaining process. Alternatively, your agent can use it to start strategizing when it seems like the numbers may not be in your favour. In essence, if your Realtor® knows the real estate landscape, they can use that information to your benefit.
2) They understand the other side
A professional who’s trained in negotiations has the rare ability to read people. I’ll be the first to admit that we can’t tell sellers exactly what buyers are thinking, and vice versa. What we can do is assess their situation and make educated guesses.
Psychology and body language are part of it, as is a basic understanding of buyer and seller behaviour. Because the best negotiators don’t bully their way into getting what they want—they empathize with the other side, putting themselves in the shoes of another. That ability comes in handy at every step that involves working with others.
Did you know I’m a qualified mediator and arbitrator? If you’re wondering whether we’d be a good match to work together, start by learning more about me here!
3) They know how other agents think
Of course, understanding buyers and sellers is just one piece of the puzzle. Knowing the advice that the other party’s Realtor® is likely giving them is just as important!
I work hard to earn the trust of my clients, so I know how much stock buyers and sellers put in what their representatives have to say. By anticipating the guidance they’re receiving, I can (potentially) foresee their next move.
Of course, experienced agents don’t just plan for the most likely scenario. They know things don’t always go as expected, which is why they prepare for as many potential situations as possible.
4) Negotiations are bound to be smoother
Nobody likes fighting. That’s as true in the real estate realm as it is in day-to-day life! Fortunately, the right negotiation strategy can help you prevent things from getting tense. While securing the best results for you should be your agent’s first priority, a smooth, low-stress bargaining process also matters.
One of the keys to success is the ability to work well with the other party and their agent. Your Realtor® should also have a solid understanding of how negotiations fit into the larger buying or selling process—and how it all plays out.
Are you preparing to buy or sell a home? You can find out more about what to expect by downloading my guides.
5) Better price, better conditions
Let’s get to the real reason most buyers and sellers care about negotiations. I’m talking about money. If you’re selling, getting a fantastic price for your property can help ensure a more secure and comfortable future. Likewise, if you’re a buyer, holding onto more of your home-buying dollars will serve you well in the years ahead.
A strong negotiator will know how to use all of the data and resources at their disposal to ensure you get the best possible price. Not only that, they’ll help you understand conditions—and work to get the ones that work for you included in your agreement. They touch on things like timelines and whether the purchase or sale will be contingent on an inspection (as just two examples).
Whether you’re buying or selling a home, it’s bound to be life-changing. That’s why I believe so strongly that you should feel great about the advice you receive. The good news is, having a Realtor® with negotiation expertise by our side can help you take your next step with confidence!
Interested in learning more about real estate negotiation strategy? Reach out to start a conversation with me!
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