Set Up Your Negotiations To Succeed

Every stage of the real estate transaction has been impacted by the COVID-19 lockdowns and changes in the market. The terms of deals are changing rapidly, and the decisions of buyers and sellers are also shifting along with the situation we’re in.  Agents are still presenting and receiving offers and having to negotiate deals, but the process has become more challenging.  It is our responsibility to give every offer as good a shot as possible of getting to the closing table, and that’s dependent on the action we take, but most importantly, our mindset.   How do we prepare ourselves and our clients for navigating this real estate market? What information do we need to have ahead of time, and how will this make closings more likely?  In this episode, we talk about how to adapt our negotiation to what’s going on.    The mental part of this game right now is critical. There are going to be 4 sets of emotions in the transaction, and the only one you can control are your own. -Brendon Payne    Three Things You’ll Learn In This Episode   Pre-qualifications and pre-approvals are getting outdated rapidly. If a buyer has a pre-approval that’s a few weeks old, make the deal contingent on them getting a current pre-approval.  Having relationships with mortgage officers is important because they can become a resource during this time to keep us informed on what’s changing in the market.  It is our job to remain calm. When we react emotionally, we become the problem in the transaction and the reason deals fall apart.