Monday, 2 January 2017

What Do Negotiation Skills Comprise of in Real Estate?

As we’ve discussed in previous blog articles, a good real estate agent has a number of important skills. Being a position in which you are working closely with people, excellent social skills are a must. The ability to properly manage expectations, convince and persuade people of certain points of view and ultimately being able to negotiate a price that both parties are happy with all falls under this category and can be the difference between a good real estate agent and a great one. While these skills are touched on during various real estate agent courses, this is often something you usually need to work on with experience.

Understanding The Needs of Both Parties

Negotiation skills can help you get a sense of the potential buyer’s position and use this knowledge to ensure you get the maximum sale price for your client. How willing is the potential buyer willing to pay? How badly do they want to purchase the property? How far should you push back? These are all things that a good real estate agent is able to get a sense of early on in the negotiation process.
Like in any sales focus, both parties invariably keep their cards close to the table, so being able to read people’s body language and other social cues can be very helpful.

Appearing to Be Neutral

While you’ll always be trying get the highest possible price for your client, it’s your job to facilitate the process. A good negotiator will avoid approaching the situation as one wherein they are trying to cheat or take advantage of the potential buyer. Rather, a good negotiator is a trusted advisor that helps both parties reach the ideal agreement help ensure the needs of both are met. If you can earn the trust of both parties, you are in a much better position to do this.

Making The Situation Comfortable for All

Talking about money can be tense at the best of times with people you’re very close with. When it comes to large sums of money and the transferring the ownership of a property, the potential is there for things to get heated if you don’t manage the situation correctly. Ultimately, you’re there to help both parties come to an agreement and often the best way to do that is to ensure everyone is comfortable and in good spirits. If all parties are relaxed, things are going to go much smoother.

Being very positive yourself and adding a little humour here and there can be an effective way of ensuring this is the case; people will often feed off the energy you’re bringing so be aware of the importance of this.

Every great real estate has their own unique approach to how they deal with and negotiate with clients. But there are certain strategies and things to remember that nearly all agents subscribe to and it’s well worth while thinking about them when you’re starting off in the real estate industry.

Monday, 31 October 2016

4 Sales Skills that Make A Great Real Estate Agent

Real estate agent courses are designed to prepare you for a career in the industry and develop all kinds of skills from client management, reading the market and of course the art of selling. It’s a fact that some people are naturally  better sellers than others, and much of what makes a great salesman is built in. At the same time, this is something that you can work on and develop over time. 

This article will discuss a few of the most important sales skills for real estate agents.

Preparation is the Key for A Successful Sale 

Every great real estate agent does their homework and understands he market better than anyone. This is something that simply comes down to prep and effort, rather than any specific god-given talent. That said, it is very much a skill to be able to use this information to influence potential buyers. Having the knowledge about what the conditions of the market and the tendencies of buyers and sellers enables you to ensure you are going after the right kind of potential buyers and arms you with the information you need to get the job done.

Listen to Your Clients Carefully 

There is some sentiment that being a great salesman is all about having the gift of the gab, but good listening skills allow you to relate with prospective buyers in way that earns trust and increases your chance of making a sale. Listening to the needs of potential buyers when combined with a knowledge of the market and your product, can allow you to convince that what you’re offering is in their best interests.

Take Quick Action  

Actioning requires a diverse set of skills that not only keep ensure the auction runs smoothly and everybody knows what is happening, but essentially keep people entertained as well. A good auctioneer will have natural charisma and a flare for showmanship that drives bidding and creates an overall positive atmosphere. Humour can also be also used in some cases and can help perspective buyers feel as if you are on their side, so to speak. Confidence and a general recognition of when to amp things up and be more assertive is a highly valuable skill.

Every auctioneer will have their own unique style and means of wining the crowd over and it’s usually something you develop through experience.

Acquire Organisational Skills

Organisational skills are highly necessary in a range of different position, and are highly essential for real estate agents as well. Managing a sales pipeline requires discipline and the ability to pick up new prospects and maintaining relationships with current and previous leads. This generally requires a system of some kind and a general knack for organisation.
Real estate agent courses will help you develop some of these skills, creating a good foundation to build upon throughout your career in the industry. From learning to auction to reading market trends, a good course puts you in a great position to succeed. 

For more information, please speak to the team at REET in Sydney today.