It’s much more difficult to experience a great negotiation than it used to be. Future generations may never have the chance to haggle over a buy or sell. In most cases these days, the price on the tag is the price you pay—end of story.
But there are still a few throwbacks to the good old days, to transactions that aren’t so cut and dry, where the better negotiator is able to gain the upper hand with careful technique and strategy. Real estate is one of the industries where negotiation remains alive and well. If your real estate agent doesn’t realize this, whether you’re in Edmonton or anywhere else in the world, you’re most definitely being shortchanged.
A great real estate agent knows that the negotiation begins with the very first sign of a home going on the market. Establishing perception can be so important when selling a home, and this starts with the initial public listing. Every bit of information released—or not released—needs to be carefully considered with a sharp focus on the end result. A great realtor keeps this at the front of their mind for the entire process. If a real estate agent is working for a buyer, their job is to decipher the available information and find a way to extract even more.
Negotiating isn’t all about how much either side’s hand is shown, however. At some point, everything about a property will be out in the open. At this point, an effective realtor squeezes every dollar out of a deal, leaving no stone unturned. For instance, they might leverage new information gleaned during the inspection or ask questions that change the overall tone of the deal. When it comes time to crunch numbers, a great agent will calculate offers with expert foresight, eventually leading to the best deal for their side.
If you’re one of the few left who still use the art of negotiation to make deals, you know that a bad negotiator can completely miss the mark, damaging a potential deal past the point of no return. The job of a real estate agent is to use their insight and experience to get their client the absolute best deal. Without effective negotiation, this is just plain impossible.