Markets change. It’s their nature and when they do, you need to change with them.
As the balance of power between Sellers and Buyers equals out, negotiations become more subtle and more important.
The aggressive competitive negotiator may find buyers and buyers agents walking away and buying a different property because of this competitive negotiation style.
Relationships with your seller clients may become strained if you are not communicating well.
Deals may fall apart on home inspection and financing conditions if you are not doing a good job of information gathering.
Sellers looking to hire an agent are going to be looking for smart strategy and not just a high price, low commission or a charismatic personality.
Balanced markets are excellent opportunities to do great work for your clients and make a difference in their lives. It’s a great time to buy, not only is there more negotiating room but there is some great inventory available for sale.
It’s a great time to move up – the old saying “move up in a down market” takes advantage of the math to get your clients closer to their long-term goals.
And for most sellers, their property is still worth a ton of money compared to when they bought it. Prices are still up and if they need to sell, it’s not a bad time.
It’s just that we need to work smarter to get the deals done.
p.s. Consider sharpening your negotiation skills with one of our coaches or join the negotiation workshop. (CNE and MCNE grads only)