Negotiating is the most important skill you must master as a Realtor.
Great negotiators don’t discount commissions, sell listings for a higher price, and hold more deals together than inexperienced agents.
There’s no better person to teach negotiation than Chris Voss, the author of the best-selling book Never Split the Difference.
Chris was the FBI’s former head international hostage negotiator. Now he’s teaching business leaders how to apply these tactics in sales.
In a recent podcast Tom Ferry interviewed Chris Voss and had him answer questions specific to real estate sales.
You can watch the video version below.
Here are 3 nuggets from the interview …
How Much Time to Get Someone’s Attention & Keep It
When you talk to a prospect on the phone, you only have 30 seconds to grab their attention.
How do you establish credibility without going through your entire resume and marketing plan?
Instead of boasting about your accomplishments simply say: “Here’s what’s going to happen when we list your house …”
Your prospect wants to know how you can help them and that you understand the market.
An additional benefit of this approach is that you build instant credibility without giving away any of your value.
How to Deliver a Negative Message by Email?
Most agents are afraid of delivering a negative message to their clients. But sometimes you have to talk about price reductions or contract cancellations.
When you need to deliver a negative message, here’s how you can tell the truth without being confrontational.
Don’t open your email with a positive remark and then do a “by-the-way …”
Instead, start with a warning that bad news is coming:
“You’re not gonna like this …”
Then you list the negative facts without emotion or blame, e.g. there are 2 new listings in your neighborhood less expensive than your home.
Let them come to their own conclusion by asking:
“How does that compare to your house?”
End the email with a positive message, because it will leave a lasting impression that stays.
What to Do if Leads Go Silent?
People stop responding to you for 2 reasons:
- If talking to you is a waste of their time, because they feel they are not listened to. You are probably pitching your service, and no one wants to get pitched all the time.
- They’ve lost their ability to get things done on their end. That’s why they are embarrassed to talk to you about it.
Send them this text: “Have you given up on working with me?”
They will respond within 30 minutes.
When they come back don’t pitch. Instead, try to understand their point and get a “that’s right” from them.