A Key Dialogue for Negotiating
Aug 15, 2024Roger Dawson introduced us to this marvelous question when he spoke on negotiating skills at our Master Sales Academy. Whenever we are presented with a price for a product or service, he instructed us to pause with a thoughtful facial expression, ask the question, and wait for an answer.
Ready for the question?
"Is that the best you can do?"
I can’t count the number of times over the years that one simple question has gotten me a lower price or added bonus. Especially on luxury items.
Roger also suggested that if the answer is “Yes, that’s the best I can do,” that you take the negotiation two steps further by asking,
“You do want to sell this, don’t you?”
Then, “I’m sorry, you’ll have to do better than that.”
And wait, because silence is golden, and you have nothing to lose by asking.
In the real estate world, we face increasing questions about fees, and the national narrative has changed from value to cost. No one seems to be asking us to do less work.
I suggest we stand Roger’s question on its’ head and ask our clients, “Do you want the best you can get?” World-class service is priceless; there will always be a demand for it; and we are not a luxury.
Ask those who have tried selling their home without an agent assisting and guiding them. Ask those who have tried buying a home and getting it closed and moving without an agent to assist and guide them.
I’m not saying it can’t be done, but the facts say the odds are against it.
Commission objections are nothing new. When you are put in the position of having to defend your value, remember George Washington’s famous saying – the best defense is a good offense.
Try not to be defensive by understanding that you are not being attacked personally.
Be crystal clear that your only concern is to serve and protect the interests of your client, and not your income. This way of thinking is the very definition of the word fiduciary.
It is the ‘Get By Giving’ philosophy in action. Let this idea sink into your thoughts, inform your words, and guide your actions.
It is time to change the topic of conversation about fees and compensation and focus on the value we bring to the table. Your clients want the best they can get, and that’s you, because you are a Master Salesperson.
Agree?
Share this article with a colleague or Realtor friend who needs some encouragement 👏🏽
Stay connected!
Join our mailing list to receive the latest news, updates and discounts from our team.
Your information is safe with us.