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Anyone can sell anything – but at what price? The experience and skill set of your agent can literally determine if you’re able to achieve your next desired chapter in life, writes Adam Flynn.
Regardless if the market is strong or weak a good negotiator can still make an enormous difference, but if I’m to be honest it’s when markets toughen up that a skilled negotiator can either make or break a sale.
In tougher markets, the less experienced will assume everything is still all about price when this isn’t the case – not at all.
Many factors come into play, much of which is about handling and navigating client expectations – both from sellers and buyers.
There are many different aspects which can be incorporated into the negotiation as opposed to just price, and the best negotiators understand that these various aspects can play an integral part in getting a deal together.
Often switching focus onto settlement can be an intelligent strategy, whereby there may a level of compromise on price if focus can be transitioned to settlement terms.
Other aspects which can also be explored are deposit amounts, building and post inspections, among other special conditions.
Furthermore, often thinking outside the box can be a deal maker or breaker. Being solution-focused and fluid in your approach by asking good questions and being a strategic problem solver can often create opportunities that didn’t previously exist.
Your ability to create a sale often lives in the grey – it’s rarely black and white, and certainly not in more challenging markets.
It may be a vendor being offered a rent back scenario post-settlement, or specific works to be completed prior to settlement as a special condition attached to the contract, but always keeping an open mind, asking good questions and being solution-focused is key – especially in changing markets.
Our job is to negotiate the best offer in the market, whether this be above or below vendor price expectations, and often shining a spotlight on other aspects as opposed to just price can make all the difference.
Other effective conversations is switching on the changeover figure, i.e. if you sell in a string market, you buy in a string market, and likewise with softer market – the market isn’t isolated to the one property.
Focusing on the emotional desire to sell as opposed to just price and shining a spotlight on the importance of other aspects to a contract can sometimes make all the difference between a client being able to move on with their life as opposed to chasing a singular price because they don’t know any other focus point.
Adam Flynn is the founder and CEO of Flynn Estate Agents.
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