Negotiating the Deal. Is It Really What You Think?

When I was but a mere grasshopper at the feet of the real estate kung fu masters, I was led to believe that negotiating the real estate transaction took place between two professionals – a listing agent and buyer’s agent – working to promote the interests of the respective clients to achieve a “win-win” and move the transaction along to a settlement date.

It is true, I was told, that any successful negotiation leaves both sides just a little bit dissatisfied. Neither side gets everything they want but neither side feels like they’ve given awy the store just in order to, er, give away the store. Supposedly, there is this give-and-take.  You know.  Either a low price or lots of closing help but not both. Extended settlement date or post-settlement occupancy.  Fix the roof but not the bad door jamb.

The end result is supposed to be people passing keys around a conference table and exchanging information about trash pick up days with lots of smiles.

Going To The Mat With Your Client

As it turns out, lo, these many years later, the negotiation with that other agent is a piece of cake.  It’s the negotiation with someone ostensibly on the same side that’s a real pain in the patootie and calls for every negotiating trick I’ve ever learned.

It’s not the other agent I have to convince about the fair market value of the house.  It’s my client.  It’s not the wisdom of asking for certain repairs or making those repairs that require a sit-down with the other agent.  It’s a sit down with my client.  It seems that virtually every aspect of the process either on the listing side or the buying side needs a negotiated settlement between the agent and their client.  Price, condition, location, financing, access to the home…it doesn’t matter.

My Plumber’s A Better Real Estate Agent Than You

The sad fact is that most people who use real estate agents to help with the home buying or selling process don’t like us, don’t trust us and are only using our services because they don’t have the time or the inclination to really do it themselves.  Of course, the fact that the law allows (encourages?) people to try and work through the real estate transaction by themselves only exacerbates the problem. Hell, if the State thinks they can do it…

So, it shouldn’t be any surprise when sellers and buyers quote from the Book of Uncle Joey, chapter and verse, about how things should be and how things should proceed.  I always am. I always think that the reason people employ professionals is to get the type of assistance they need to have the best outcome possible.

I’m almost always wrong.

The negotiation starts at the initial consultation whether I’m talking to a seller about a listing or taking a buyer out for a few home showings.  It continues throughout the process.  In fact, working out the details with the other agent is sometimes the least stressful part of the process (sometimes).  After all, they have a stake in getting the deal done, too.

Finessing the deal with someone who is supposed to be your ally isn’t what they taught in Real Estate 101. Maybe they should.