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The Art of Negotiation: Win Big, Earn Big, and Have Fun Doing It!

The Art Of Negotiation

Welcome, glorious estate agency gladiators! Today, we're stepping into the thrilling, pulse-pounding arena of negotiation.

Are you ready for some game-changing, wallet-fattening, smile-inducing tactics that'll make you the 'Dwayne "The Rock" Johnson' of negotiation? Of course you are!

Now, before we dive in, there's a juicy little secret I've been keeping under wraps. We have a guide - The Hidden Secrets to Crushing Your Competition and Boosting Your Fees in an Ultra-Competitive Market! Oh yeah, it's real and as spectacular as it sounds. Imagine it as the ultimate power-up in your negotiation boss fight.

Want it? Download it now before we get down to business!

Alright, let's tango!


1. Mindset is Everything:

In the colourful circus of estate agency, negotiation is the daring trapeze act.

Thrilling? Absolutely!

Terrifying? Only if you're not prepared!

But fear not, my brave friends, because the first secret to negotiation is all in the noggin. Your mindset, my dear agent, determines whether you're a lion tamer or just another clown in the ring.

So the more you believe in yourself to be the victor in the negotiation, the higher the chances are that you'll walk away with the prize.


2. Knowledge is Power:

Every estate agency gladiator knows that the sharpest sword in the negotiation battle is knowledge. Know the market, know the property, know the client, know the... well, you get the idea.

The more info you can arm yourself with, the better your chances of emerging victorious.

Want to know more? grab our guidefor an arsenal of knowledge that'll leave your competition shaking in their boots!

3. Mastering the Art of the Poker Face:

Negotiation is the ultimate poker game, and the stakes? Well, they're as high as a penthouse suite in a luxury high-rise, especially when it comes to getting the best possible fee for you and your agency.

So, how do you keep your cool when the pressure is on?

Simple: practice your poker face. Keep your emotions in check, your reactions neutral, and your intentions as unreadable as the final season of Lost. And don't let your mask fall and be swayed when your prospect tries to call your bluff by suggesting they'll go with another agent if you don't match their low-fee offering.


4. The Power of Silence:

Ever heard the saying, "Silence is golden"? In negotiation, it's more like platinum!

Silence creates pressure, encourages the other party to reveal their hand, and gives you time to think. It's more powerful than you might imagine.

So next time you're in a heated negotiation, try biting your tongue (not literally) and see what happens. Sit in the discomfort and allow things to unfold. You might be surprised where it leads.


5. The Win-Win Scenario:

All said, the best negotiations end with both parties strutting out of the room like they just won the lottery. Think about the final scenes of Pretty Woman where Richard Gere changes his approach to the development he's about to do, before closing the deal with Julia Roberts – powerful!

So you should strive for a win-win situation where everyone feels like a champion. It builds relationships, boosts your reputation, and turns one-time clients into repeat business.

There are many variables to bring into play in a negotiation, and the more you practice, the more fluid you'll be in the moment. Client wants to list at a higher price? Negotiate a stepped fee based on achieving a higher figure than you've suggested to incentivise the process and make it win-win. Or ask them to cover your marketing spend up front or nail on a withdrawal fee if they pull it off the market because it hasn't sold.


6. Leveraging the Power of Persuasion:

Persuasion is more than just a handy tool for convincing your 5-year-old to eat their veggies. It's a fundamental part of negotiation.

The key? You must appeal to both logic and emotion.

Remember, people make decisions emotionally first, and then justify them logically. Whether you're justifying a price, highlighting the benefits of a new home, or selling your services, use persuasive language to win the day!

Everyone wants to work with the best, they sometimes need a little persuading to help them justify that decision in their mind, especially if overcoming mental price barriers.


7. Be Ready to Walk Away:

Sometimes the best deal is no deal at all. And that's certainly the case if you're going to be railroaded into selling your services at anything less than 1% plus VAT.

So, don't be afraid to strap on your cowboy boots and ride off into the sunset if things aren't going your way. It shows you're not desperate, and that you value quality over quantity. It also shows that you value your service more than any job where clients ask you to cut your fees to try and win it.

More importantly, it sets a precedent for future negotiations. No one's gonna mess with an agent who's ready to walk away!

And if you've followed all the guidance we've been sharing at WiggyWam, you'll already have built desirability in the mind of the client, causing them to panic when you saddle up and wish them well as you canter off into the distance.


8. Timing is Everything:

In the game of negotiation, timing isn't just everything - it's the ONLY thing.

Knowing when to make the first offer, when to counter, and when to seal the deal is crucial. Your timing could be the difference between a rebound and a match-winning buzzer-beater swish.

Practice, experience, and our invaluable guide can help you master this critical skill. Above all, listen to your intuition and let it guide you through the process.

9. Practice, Practice, Practice:

Yes, practice makes perfect, even in negotiation.

Take every opportunity to flex your negotiation muscles. Whether you're haggling over a second-hand car or trying to score that front-row ticket at a rock concert, every negotiation brings you one step closer to becoming the ultimate deal-closing machine.

My favourite game to play when we're practicing negotiation skills is to try and get something for free when we're out and about. I'm not talking about theft and dishonesty (after all, you're not a banker!), I'm talking about getting into a negotiation to try and get something for free. Fancy a free cookie with your coffee? Just ask and see what happens!


10. Be Authentic:

Ready to take your negotiation skills from 'meh' to 'wow'? Then it's time to master the art of being authentic.

In the high-pressure stakes world of "coffee's for closers" you can sometimes get caught up in trying to win negotiations for the sake of winning them, not caring what the consequences are, but just enjoying the thrill of the close.

Trust me, I know how addictive that can be, especially when you're on a roll and think you've got the Midas touch! But always take a step back and ask, is this the right thing for the client as well as you? Are you genuinely helping them in this trade or is it a little one-sided? Because trust me when I say, karma is real, and it will come back and bite you on the butt in unexpected ways in the future if you do people a disservice.

So listen intently to that gut feeling during the course of negotiations, and if something feels wrong, even if you can't put your finger on why, walk away.

Alright, warriors of the estate agency world! We've delved deep into the art of negotiation, but the learning doesn't have to stop here. If you're craving more (and I know you are), click that link below and download the guide that's going to put you miles ahead of your competition. It's time to become the negotiation ninja you were born to be!

If you're ready to dive deeper and discover a treasure trove of strategies to help you dominate the competition and skyrocket your fees, then read the guide to find out more.

What are you waiting for? Discover how you can increase your fees
and beat the competition! Download your FREE copy now:

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Tuesday, 28 May 2024