Tip #24 - Negotiations. Seek First to Understand - 365 Tips To Becoming A Successful Realtor®

By
Real Estate Agent with Elite Realty NW - Keller Williams, Vancouver Washington

365 Tips To Becoming A Successful Realtor®

365 Tips To Becoming A Successful Realtor®

Tip #24 - Negotiations. Seek First to Understand


Early in my career as a real estate agent in Vancouver Washington, I lost a deal for some of my clients. At first I was confused. I had followed my own rule, (Tip #10 - Negotiations. Ask And You Shall Receive Information! ), but the deal failed. My clients were upset and it was my fault.

The problem was that I didn't fully understand my clients' needs, wants, and motivations.

I am generally a tough negotiator. I like to get my clients the best deals on the best homes in the best areas. I advised them to make an offer that was lower than they had planned. I was hoping to meet the seller in the middle somewhere and ultimately get my clients a super deal on the home. Where I failed was that I didn't realize that my buyers really really wanted that home. They weren't concerned with the price. I didn't take the time to understand that the specific home was more important than the price.

Luckily, a home across the street on a bigger lot was listed a week later and we snapped it up right away.

The price was my motivation, not theirs. Not everyone is motivated by a great price. I learned (the hard way) that many buyers are just as motivated by the neighborhood, or the school district, or the flower garden or the..? I haven't made that mistake again.

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Comments 1 New Comment

Rainmaker
724,212
Richard Weeks
Realtor, Associate Broker - Manager Business Development
Waller Group

Well said.  I guess the old saying "a lesson earned is a lesson learned" was very true.

June 17, 2010 08:15 AM
Rainmaker
377,679

Mark Hall

Homes for Sale Vancouver Washington
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Additional Information

Mark and Janice Hall of Elite Realty NW lead a dedicated team of real estate agents in the Vancouver Washington area. Each one passionate about providing the highest quality customer service. Each is focused on getting you into the Vancouver Washington home of your dreams.