How to Negotiate in a Sellers Market

How to Negotiate in a Sellers Market with Leonard Atlas – CREPN #42

J. Darrin Gross Podcast

Real Estate Negotiations are involved.  Negotiations in a Sellers Market can test even the best salesperson.  Unlike a market with a similar number of buyers and sellers, a hot market with more buyers than sellers drives prices upwards to points beyond reason.   

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When a marketplace turns irrational, superior negotiation skills are required to gain a favorable outcome for your client.   

How to Negotiate in a Sellers Market

Leonard Atlas

Leonard Atlas with Mission Profitable Inc is an experienced Real Estate Sales trainer who helps salespeople focus in order to put the majority of their efforts into the opportunities most likely to close.    As a teenager in his family business, Leonard observed that salespeople can use very different techniques and be similarly successful.

I had the privilege to speak with Leonard and go through his

“How to be a Better Negotiator in a Sellers Market”

Leonard presentation provides insight to what you can expect and do to improve outcome when negotiating.  

Download your own copy of the presentation at: http://bit.ly/CREPN-BetterNegotiator

Leonard’s Principles of Negotiation:

  • You will be lied to.
  • You must look out for yourself
  • You can’t influence companies, only individuals
  • Negotiating with people is unpredictable
  • There are no rules
  • You are not always going to have leverage
  • Things are never as bad or good as they seem in the heat of the moment
  • Every negotiator has a different set of rules
  • Rules are subject to change
  • Take measured risk
  • Pigs get slaughtered

In order to be a better negotiator in a sellers market, it is critical that you recognize prior to entering a negotiation at what point you are willing to walk away.  

Knowing your limits ahead of time allows for the opportunity to stop the process with dignity, leaving the door open for a future deal.

Leonard’s training How to be a Better Negotiator addresses how to

  • Take the emotion out of the deal
  • See the opportunities and when to say no
  • Not force a deal
  • Recognize when a deal is not going happen

80/20 Rule

In our conversation, Leonard addresses the 80/20 rule and provides some discusses how to read the signs in the communication as early as possible to disqualify those deals that are not going to work.  Using discretion and moving quickly through those deals that will not work allows you the opportunity to move towards those that will produce results.

Even if the decision means not to make a purchase right now.  

The sooner you determine the prospect is not a buyer, you can move to one that is.

The BIG FIVE:

Mindset – do you see the glass as half full or half empty.  If you are coming from scarcity it will show and you will not get the day.  People are drawn to someone who comes from abundance.

Behavior – Be consistent.  It’s not about clock time.  Use your time to make your goals.  It about Numbers; goal time.

Technique – Get the training necessary to quickly move through the no’s.

Rewards & Patience

To be a Better Negotiator in a Sellers Market, takes effort, but the results continue to provide dividends.  

Marketing

Knowing your product

Build your pipeline

For more information contact Leonard Atlas at:

www.Missionprofitable.com

About the Author

J. Darrin Gross

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J. Darrin Gross is known to his clients & prospects as the most trusted insurance adviser for commercial real estate insurance. He is famous for helping apartment building and commercial property owners get high quality comprehensive protection at unbeatable rates. Download a free copy of the Real Estate Investors Guide to Commercial Insurance.