4 Surefire Ways to Win a Real Estate Deal

Just recently, President Donald Trump and North Korean leader Kim Jong Un shook hands at a summit in Singapore. The details of the meeting have been kept secret. But the handshake between the two controversial leaders indicated one thing: a significant deal had just been reached.

Important historical moments such as this are marked by a handshake. It symbolizes a willingness to cooperate. To a real estate professional, it simply means a way forward in an industry where negotiations can make or break a business.

In the spirit of National Handshake Day, here’s a list of the best ways to win deals with clients and business partners. Apply these tips and you will be shaking hands over a surefire home sale in no time.

1. Do your homework

When dealing with clients, don’t assume you already possess enough negotiating power to strike up a deal. You still need to support your side with facts. So, prior to a contract meeting, make sure to explore all sides of the topic. That way, it will be easier for you to devise a plan to come up with arguments and counter-arguments that will win the day.

2. Record important points

If you are negotiating with a buyer about the appraisal of a property you are selling, expect to take in a lot of details. To make sure your negotiations reach a desired end result, write down every bit of information you pick up. That way, you can refer back to your notes if you think the conversation isn’t going the way it should. You can have a virtual workforce to help you organize these notes into actionable intelligence that should inform your overall business strategy.

3. Compromise on price

It’s a numbers game when you are negotiating the price of a piece of commercial or residential property. If you are selling a home, you are likely to play a game of tug-of-war with a buyer. You want the price to be higher, while the other party wants it lower. Often, both of you refuse to give in, resulting in a failed negotiation and a lost opportunity. You can avoid this through effective compromising that secures your interests and that of the buyer as well.

4. Build up your case

Sometimes, we get so caught up by a potential sale that we forget to properly handle a negotiation. Worse, we would make a pitch early on without giving a buyer enough time to make an informed decision. Negotiations follow a logical sequence, with the sales pitch always coming in last. Prior to that point, provide relevant and valuable information first until you build enough interest to coax the other party to your side.

Of course, this requires a great deal of engagement. Using email campaigns and cold-calling, you can significantly increase your chances of sealing a deal during a sales appointment.

You can also get a real estate virtual assistant today to help you get more handshakes from satisfied clients.