Save The Date! Our next live virtual online Luxury Designation Training will be on March 17th.
All the details can be found at: www.LuxuryDesignation.com
One of the most important qualifications of a real estate agent is their ability to negotiate effectively. What makes an agent a skillful negotiator is understanding the negotiating process and being able to navigate through the multiple issues that a real estate transaction entails. It’s the number one skill clients look for. And it's not just a business skill, it's a life skill.
If you want to become a better negotiator, this episode is for you. I have some great discussions with the founder of The Certified Negotiation Expert (CNE) and founder of The Real Estate Negotiation Institute (The RENI), Tom Hayman.
He has over 15 years of experience as an agent and negotiation trainer. He’s got some practical strategies on how to handle real estate negotiations that will help you close the deal.
To find out more about becoming a CNE, visit https://www.thereni.com
“Having excellent negotiating skills is vital. And it’s one of those skills that doesn't always show up in your bio or listing book. You need to be able to differentiate yourself from the competition.” -Michael LaFido
Three Things You’ll Learn in This Episode
The Influence of Culture on Negotiation:
Different cultures negotiate differently. The one common aspect all cultures have is that they’re relationship-based. To negotiate effectively, you need to cultivate that relationship and show your client that you care about them and their culture.
The Exchange Persuasion Principle:
The Exchange Persuasion Principle states that if I do something for you, then you are likely to feel an obligation to do something for me. An example of this would be when signing on a new listing client, you might accept a lower listing fee if they commit to a performance bonus when you deliver stellar results.
3 Skills for Agent Success:
The top 3 skills agents should focus on that will get the best return for their business are marketing, marketing analysis, and negotiation. You need marketing and marketing analysis skills to effectively present a home, and the way you negotiate is vital because if you do a poor job, you leave money on the table for your client and yourself.
Tom Hayman spent 25 years negotiating with hundreds of companies for Proctor and Gamble (including 4 years in Japan and the Far East). He went into real estate in 2003 and has over 15 years as an active agent and negotiation trainer. In 2007, he founded Real Estate Negotiation Institute. He enjoys studying the latest research on persuasion and figuring out how it applies to real estate (and life) and passing it on to his students.
You can get in touch with Tom through The Real Estate Negotiation Institute website at https://www.thereni.com/
Max Avenue website - https://www.maxavenue.com/
The Speed of Trust by Stephen M. R. Covey