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The Power of Negotiation

The Power of Negotiation

Written by Dean Costello: Principal of Elders Residential Echuca

You’ve all heard the saying your home is your castle. When we explore what this actually means, it tells us it’s the place we live, love & have made many memories. It can be the place we have spent many hours enjoying, renovating or building to help secure a financial future. As a result of this we want to ensure we achieve the best possible price when we sell.

With this sort of personnel vested interest in our home it can make decision making a daunting task. How do we price it, which agent do we choose & how do we prepare it? It can become overwhelming. A lot of these answers can be solved by choosing a trusted & experienced real estate agent. After all that is what an agent does day in & day out. The question is are all agents the same. A great agent should be able to answer all your question, give examples of similar experiences. They should also be able to provide you with great results they have achieved & have a trail of customers that will contest that agent truly can & does do the tasks promised.

To answer some of the questions home sellers generally have, as a long term agent I would suggest one of the key factors to achieving a great result lays in strong negotiation skills. This can most certainly be the difference between a good result & a great result in the sales process which can be tens of thousands of dollars difference.

Marketing your home is an important part of the process as it creates interest giving the agent potential purchasers to work with. However, what happens once the agent starts dealing with these potential purchasers if their negotiation skills are not of a very high level? I can answer this for you. Offers will be made through the campaign & will be presented to you. An agent will supply further information in regards to these offers but will not advise whether you should or shouldn’t take an offer. That is always solely your decision as the home owner & and you should never be forced by an agent to make a decision. They should however give you the background & the communication needed to make an informed decision you are ultimately comfortable with. Without the correct communication & background you may not be sure the offer that you are receiving is the best offer available in the current market. If there is no strategy or the right questions asked, I would suggest the agent would not be aware of the potential to have the offers increased.

Great negotiators can read the purchasers & also have strategies in place which will assist in achieving the very best result for the vendor. At the end of the day that is what we are all after, the best result.

These kind of negotiation skills are practised & perfected after many years of negotiating & not learned simply out of a book. It’s a bit like a pilot. If you were flying into a storm would you prefer your pilot to have a baby face or a few grey hairs well earned over time.