Buying Information
Win-Win Negotiations
Is it possible to achieve mutually beneficial contracts between buyers and sellers? Can all parties accomplish their goals in a transaction? Is it really possible for everyone to walk away feeling like a winner? The short answer is "yes!" Successful negotiating results from the skillful orchestration of events and timing combined with a clear understanding of emotions, facts and motivations.
Good negotiations are achieved through good discovery. Your Napier ERA real estate agent will ask many questions in order to better understand your goals, needs and expectations from the transaction. In these discussions you should feel comfortable clearly communicating your true agenda and intentions to your agent. You can trust that your agent will maintain your confidences and work to represent your best interests. In Virginia, "Agency" laws clearly govern the relationships between agents, clients and customers to ensure this protection. Please refer to "Agency Explanation" for more information.
Good discovery also includes uncovering the needs, desires and motivations of the other party. This is always tricky because the other party, as a minimum will have their guard up and in the worst cases, may even be adversarial. And yet, a well-crafted agreement satisfies most of the important needs of the various parties, so getting to the issues is key. In a hot real estate market, where multiple offers are on the table, good discovery is everything. It is critical to be armed with the very best information at the right moment in order to appropriately position your offer, or to evaluate the best offer received for your sale. A professionally trained agent will ask non-threatening open-ended questions, listen carefully to answers and will even gain insight through understanding the meaning of the other party's body language, mannerisms, and tone of voice.
Today's technology has effected profound changes, both positive and negative in the negotiating process. More complete and better information is readily available to everyone.
Contracts and paperwork can be easily conveyed by electronic means. Most people can be contacted through voicemail or e-mail. These conveniences facilitate the exchange of information, but may also hinder effective communication between the parties. The day of a simple "handshake" agreement is long gone, but people still need to accomplish a "meeting of the minds." This requires bringing parties together by embracing the benefits of technology while reaching beyond its barriers to interact with real people using true people skills. Sensitivity, creativity and tenacity become important to the success of the agreement.
Once good information is gathered, the negotiator can apply creative talents and learned skills to craft an agreement that all parties will endorse. At Napier ERA, we believe that the ongoing training and substantial resources we provide for our agents greatly contributes to their superior negotiating skills.
Finally, a good agreement must be durable. Regular client follow up after contract execution is critical. "No news" doesn't necessarily mean "good news." Did the other party walk away with unsatisfied issues? Will their issues fester causing them to look for ways to unravel the agreement? Maintaining good communication and relationships prior to closing will help to hold together a good agreement and avoid surprise problems.
Win-win negotiations certainly are possible and should always be the goal. A one-sided win contains the potential for many problems. Always remember that it is possible to win one's "way" without winning one's goals. To achieve success in negotiations, establish your priorities, develop offer and counter-offer strategies, continuously evaluate and re-evaluate your position, and look for the ways that all parties can win and feel good about the agreement.
For more information or assistance, please contact your favorite Napier ERA agent or fill out our contact form.
