As an agent, the chances are you’ve dealt with an emotional client before. Century 21 owner and chairman Charles Tarbey says negotiations should always have a third party and without one, emotions can run riot.
“I think that there should always be a third party in negotiation because ... if a seller gets offended quite often they'll say ‘I don't care, I don't want to sell my home to that person’,” said Century 21 owner and chairman Charles Tarbey.
Mr Tarbey continued to say that while the third party doesn’t necessarily have to be an agent, this can be a great time for a buyer’s agent to step up and take over the negotiation process.
“You've got a buyer's agent acting for the buyer and a seller's agent acting for the seller, and we're going to go head-to-head with each other to try and make it work,” said Mr Tarbey.
“When we have a buyer's agent, we've got to negotiate with them, so at the same time that's not a bad spot to be in because now all of sudden you neutralise the process.”
Mr Tarbey said making sure both the seller and buyer were using an agent would move the residential real estate market into a similar emotional realm as commercial real estate which is bought and sold with minimal sentiment.
“The emotional aspect, that's where it goes wrong ... when you buy commercial real estate or you're selling commercial real estate, it's black and white, it's so much per square metre [but] when you're buying residential real estate or selling residential real estate it's just a really emotive time and it can be easily damaged because of that,” said Mr Tarbey.