Expert Tips

Expert Tips

Your Guide To Winning a Real Estate Negotiation

November 30, 2018


The art of negotiating can be intimidating for some and invigorating for others. Love it or hate it, one thing is for sure: nobody should be negotiating the sale or purchase of their own personal home. Why? The answer is simple. Emotions get in the way … every single time.

Not only is buying or selling your family’s home deeply personal, real estate sales are often the biggest single financial investment of our lives. So when negotiations get tense or deals start to go sideways, self-control and a clear head can be difficult to maintain.

This is why people seek help with residential real estate negotiations, but don’t on cars, mattresses, or any other opportunity to wheel and deal. The Wistrick Team leverages its 18 combined years of negotiating experience to ensure our clients are well-represented when it comes to protecting their bottom lines (and then some!). So this month we’re giving everyone a peek behind the curtain at two of the most common characters we’re up against in the heat of a tough negotiation.

The Hardballer:

We all know this person … they have a “take it or leave it” approach. They draw a hard line. They are blunt, stern, and to-the-point. They use threat tactics, like to low-ball, and can be borderline insulting.

While they may not realize it, the Hardballer tends to “win” far less because they often offend the other party. The Hardballer often concedes on many of their terms in the end because they almost have to beg to get the other party to return to the negotiation table. Or, if they aren’t the beggin’ type, they tend to lose out on the right home or potential buyer because their pride got in the way. So prepare yourself for a ride when dealing with this character because Hardballers are rarely ever satisfied, no matter how good the deal may be for them.

Here’s how to win against a Hardballer.

Since a Hardballer is aggressive and likes to move fast, we recommend that our clients slow WAY down in their response time. This sends an unspoken signal that you aren’t intimidated by their aggressiveness, and you aren’t eager to entertain an unrealistic offer or counter-offer. If a Hardballer feels that they have lost the attention of the seller, they tend to panic for fear that they can’t get you back in the game. Once that happens, they start to lose their footing. If you can make a Hardballer come back more than once, it’s usually a big advantage for you. If the proposed terms are so far out of this stratosphere, we recommend our clients simply stay silent.

The Nonchalant Negotiator: This character will attempt to hide their emotions and pretend that they aren’t desperate to buy or sell. Their goal is to make the other party squirm and start giving up more in the deal. You will hear them say things like, It’s a nice house, but we have a few others we are considering and we don’t have to move. They will also nit-pick to try and devalue a home or claim that other offers are coming in. This can be really frustrating for clients eager to move by a certain date, and Nonchalant Negotiators know this. They know silence is deadly and will disappear for a few days hoping it will stress out the the other party.

Here’s how to win against a Nonchalant Negotiator.

They are tough, I’ll be honest! The best counterpunch to a Nonchalant Negotiator is to reveal as little information as possible about the reason for buying or selling because they like to prey on pain points. Other tactics include provoking a “fear of loss” or even going silent. If they think the other party is getting ready to walk, you will suddenly see their motivation level spike. However, this character is usually a good read of lies, so telling them fictitious stories usually doesn’t work. In fact, because they are nonchalant they will usually step back and wait even longer if they get any sense of being played.

The Wistrick Team focuses heavily on continuing to grow in this negotiation space. The better trained we are for our clients, the more successful they will be. We wear many hats each day in order to bring everyone to a smooth closing. Our team has been professionally trained by the #1 negotiation coaching firm in North America, so we are always ready to take on the next challenge!

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