One of the key reasons home buyers and sellers hire a real estate agent is for their specialized negotiation skills. Your clients require the expertise of a professional who understands how to get them the best terms and close the deal during early conversations with the other party.

Apply the following three negotiation tips to your dealings with buyers, sellers, and contractors (and maybe even your kids!) the next time they drive a hard bargain.

1. Aim for win-win solutions in real estate negotiations

You can’t please everyone every time, but when you negotiate in good faith, you can often achieve a mutually beneficial solution.

When negotiating on behalf of your clients, begin by determining their “must haves,” their “nice-to-haves,” and the contract terms they could live without. Get a sense of the other party’s priorities and remind them that you share the same goal—a signed purchase agreement!

By offering concessions strategically, you can remind the other party that give-and-take is a key component of any negotiation, and a willingness to compromise allows you to stand firm on the items that really matter.

2. Let silence do the talking

You know the old saying, “Don’t just sit there, do something!” When negotiating, the reverse is sometimes true: “Don’t just do something, sit there!”

Research suggests pausing during negotiations can help both sides reflect on their wants and improve outcomes for everyone.

When someone brings up a point of contention, take some time to ponder the proposition. This technique encourages more effective listening from both parties and could prompt the other party to meet your demands.

Even if someone brings up an item that you’re happy to concede, allow that pregnant pause to linger before agreeing to the request. The other party will feel accomplished, and you’ll set the stage for easier negotiation down the line.

3. Never lose sight of the big picture

It’s easy to let your ego lead you astray during an intense negotiation but try not to miss the forest for the trees! Obsessing over minor details could sink the deal.

Will those old window treatments really bother your buyers that much if they’re getting an amazing, below-market deal? Of course, there’s no harm in asking for repairs! But don’t let little things—especially décor—get in the way of an otherwise favorable transaction.

The material in this article is for your information only. It is not intended to be used in lieu of seeking additional consumer or professional advice.

Reference to any specific brand, product, or service does not constitute endorsement by ORHP. ORHP does not receive any compensation for providing third-party links.