As I mentioned before, I discussed unique ways to create value in the transaction with Samia Morgan of Keller Williams.  She made a subtle point about negotiation skills in the course of our conversation that I feel compelled to replay here.

Yes, we all know that real estate agents must be able to negotiate.  It is a "must have" skill for any agent.  But what about the subtle skill of adjusting your negotiating tactics when the market shifts?  In a seller’s market, there are different points and strategies for both buyers and sellers.  A buyer may need to be ready to pounce with pre-approval, letters of reference and split second decision making.  Sellers may be able to shift costs (such as closing or inspection related items) off to the buyer.  If an agent misses these points, he or she may cost the buyer or seller thousands of dollars.

In a buyer’s market, the dynamics change.  What can the seller negotiate without turning off a willing buyer?  How far can the buyer push to have improvements made or closing costs covered?  What other aspects of leverage change as the market changes?

This analysis also applies to the style of a home, different price points, location, and of course the buyer and seller themselves.  As a real estate agent, to deliver exceptional value in a transaction, you must keep all these factors in mind to maximize the value for your client.

How have you saved your client thousands of dollars through negotiations?  Tell me how you have maximized the selling price through negotiation.