7 3 4 . 4 7 8 . 5 7 3 0
We have found mature negotiation gets the best outcome for our clients. Rather than demand, yell, or threaten the other party in any negotiation, mature negotiators are secure enough to find out everything the other party needs first. This puts the mature negotiator in the strongest possible position, maintains the crucial meeting of the minds between parties, and results in the best possible agreements. Here’s a simplified example.
Seller wishes to sell their house, and buyer wishes to buy it. Buyer’s broker immediately calls listing broker and asks, “What are all the important things for the Seller?"
An intelligent listing broker will respect this question. "Well, seller would of course like to sell at listing price, but they have some special needs. They are buying a house as well and need to close in 45 days but want to stay in the house for another 60 days as their son wants his graduation party to be at the home he grew up in. And, because they are buying another house, they need assurance buyer will follow through to closing.”
Perfect. From this, buyer’s broker writes offer with a sales price that is slightly less than listing price, yet specifies closing in 45 days, occupancy for another 60 days at a small charge, and pledges another $5,000 in earnest money to be deposited after successful inspection. None of the seller needs were a problem for buyer to meet, and the buyer even asked for a lower price, and got it. Price was less important to seller than the other matters. But, how would buyer have known unless buyer’s broker asked?
The offer was accepted immediately. Everyone got what they wanted.
Contrast this with writing an offer in ignorance of the seller’s needs, and the offer written strictly according to buyer’s needs. Seller’s first response is to take a combative posture and response to get what they need. Buyer’s response to seller’s response is typically the same. The fight “negotiation” begins.
From the start, a meeting of the minds is not achieved and going forward will be difficult and time consuming as both parties fight to get what they want without even knowing they could have easily met each other’s needs without giving up their own from the beginning. They could have established and kept the essential meeting of the minds all the way through the complex transaction process, resolving problems amicably all the way through closing. Result?
The offer was NOT accepted immediately. Everyone did NOT get what they wanted.
© 2017 Golden Drake Realty. Information deemed reliable, but not guaranteed. Web design by SJ Design Studio.