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The Art and Science of Real Estate Negotiation

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The Art & Science of Real Estate Negotiation provides strategies, skills, and tactics for every negotiator to master the art of negotiation.

Synopsis

The Art and Science of Real Estate Negotiation addresses a practice indispensable to real estate success: negotiating. Negotiation principles and fundamentals get results for real estate buyers, sellers, and investors, whether when buying or selling a home or when investing in larger real estate deals.

Become a powerful real estate investor who nets results and dollars. You may also find that your everyday communications improve.

The Art and Science of Real Estate Negotiation is the third volume in The Real Estate Investor Manuals.

It draws upon the author’s knowledge base and her 20-year experience as a real estate professional and a real estate investor.

So why not hone your skills with knowledge and experience captured in this book written by an industry veteran?

Topics include:

• Real estate-specific negotiating.
• Negotiation principles.
• The real estate negotiation process.
• How to establish rapport.
• Discerning the other party’s motivation.
• Solve problems. Get results.
• Negotiation strategies and tactics.
• Avoiding negotiation traps and pitfalls.
• And much, much more...

Whether you want to be a better negotiator, close more real estate deals, or increase your bottom line, this book is for you!

Read it now!

There are different levels of negotiation, but regardless of the level, negotiation is a skill worth mastering. In The Art & Science of Real Estate Negotiation, Gabrielle Dahms provides tactics, fundamentals, and strategies for effective real estate negotiation. The author presents sufficient information for the reader to overcome or minimize any fears they might have regarding negotiating. There are nine chapters in the book and plenty of additional information for the novice real estate negotiator.


I love The Art & Science of Real Estate Negotiation because it is an easy read for what I would consider a not so easy to understand subject. The tips are quite straightforward, so even the newest kid on the block should be able to follow along. The negotiation checklist in chapter VII; the 55 negotiation tactics, and the 25+ power questions are very impressive additions that readers will appreciate. Adding the section on contracts is a great idea because contracts can be such a contentious, yet vital part of real estate deals.


Although the book focuses on real estate negotiations, some of the strategies provided can be used in other areas. While this will not be the only book you read on negotiation, this is a simple first step. Readers will learn about the role of negotiations in real estate transactions, how negotiations influence real estate negotiations, and best practices for successful real estate agreements.


The Art & Science of Real Estate Negotiation is for the newbie real estate negotiator. For those who want to master real estate negotiation instead of operating on luck or chance, this is a great starting point. The author is a veteran in the field with over 20 years of experience, so she is very qualified to write on the subject. So, grab a copy of this book and find a seat by the fire place. It will be worth the read.

Reviewed by

Mardene Carr is from the beautiful Island of Jamaica. She is a trained Librarian, doctoral student, blogger, journal reviewer, proofreader,and editor. She has authored several journal articles and blog posts. Mardene is also a motivational speaker and international student coach.

Synopsis

The Art and Science of Real Estate Negotiation addresses a practice indispensable to real estate success: negotiating. Negotiation principles and fundamentals get results for real estate buyers, sellers, and investors, whether when buying or selling a home or when investing in larger real estate deals.

Become a powerful real estate investor who nets results and dollars. You may also find that your everyday communications improve.

The Art and Science of Real Estate Negotiation is the third volume in The Real Estate Investor Manuals.

It draws upon the author’s knowledge base and her 20-year experience as a real estate professional and a real estate investor.

So why not hone your skills with knowledge and experience captured in this book written by an industry veteran?

Topics include:

• Real estate-specific negotiating.
• Negotiation principles.
• The real estate negotiation process.
• How to establish rapport.
• Discerning the other party’s motivation.
• Solve problems. Get results.
• Negotiation strategies and tactics.
• Avoiding negotiation traps and pitfalls.
• And much, much more...

Whether you want to be a better negotiator, close more real estate deals, or increase your bottom line, this book is for you!

Read it now!

INTRODUCTION


Influence is when you are not the one talking and yet your words fill the room; when you are absent and yet your presence is felt everywhere. — Temitope Ibrahim.


In 2001 I apprenticed myself to a veteran San Francisco realtor® with over forty years of experience. Though I held a freshly minted California real estate license in hand, I realized that a license did not make me a real estate professional. Perhaps having grown up in Europe where apprenticeships carry high value saved me valuable time from floundering.

Learning the real estate business from a seasoned professional woman proved an excellent decision. This lady was one of the toughest negotiators I have ever known. Her clients were high end, high maintenance clients who expected no less. I consciously entered the world of negotiations and diplomacy under her tutelage and mentorship. I am grateful and remember one lesson in negotiation that dazzled me.

On one occasion, Ms. Jones[1] received a call from a buyer’s agent on one of her listings. The agent asked aggressive questions, then told Ms. Jones a story about a perceived issue of the upscale property. She stated that her buyer wanted to renegotiate the already signed contract. She gave no other reasons but insisted the issue was real and that it had not been disclosed.

Ms. Jones, an attentive listener, took it all in and scribbled down notes. She did not interrupt, thanked the caller when she finished—and hung up the phone. She shot me a look across the room, asked me to bring her the voluminous property file and took a deep breath.

Her client, the seller, received a call from her only twenty minutes later. She briefly explained the situation and waited for his response. He evaded responding but stuttered out a few informative morsels. When he was complete, Ms. Jones said one brief sentence to her seller: “I can only help you if you are honest with me.”

Silence ensued.

After what seemed a long time “alright, alright” followed. The seller laid the situation out for her. It turned out he feared that honesty about the undisclosed issue would have marred his property, netting him less. Ms. Jones reiterated his duty to disclose all known facts about the property. She also assured him she would negotiate hard for him. She started by telling the buyer’s agent the truth. Then she ceded a small but important concession about the transaction’s timing.

The buyer ended up leaving the contract in place. Why?

For several important reasons, the most important one of which was trust built upon good communication and integrity.

Not only the buyer and his agent walked away respected and satisfied. Some sellers would never have told their agent the truth, but Ms. Jones’ authenticity, non-judgmental approach, and expertise transmitted to her client. He became a client for life and sent many referrals Ms. Jones’ way.

Negotiating is an art and a science. Excellent negotiators are aware of this and hone their craft in both arenas. Whether you already are an excellent negotiator—in real estate or in another field—or whether you are a complete negotiation newbie, you likely appreciate the importance of negotiating well. You understand the importance of improving negotiations. Perhaps you already know that the ability to negotiate underlies everything you do in business and life. It spans deciding on a movie with your significant other, making sure your children complete their homework, or buying or selling a property.

The skill of negotiating gets you desired results. Negotiation in its simplest form is communication aimed at reaching specific outcomes. It does not matter whether such outcomes are better terms, more money, getting a certain job, or consummating a real estate deal.

However, negotiations range from non-dollar items to multimillion-dollar transactions. They are nuanced, simple, yet complex. They involve people, circumstances, facts, resources, and many other moving parts and changing circumstances.

The history of negotiation is as old as humanity. The role of negotiation and diplomacy penetrate every life—yes, diplomacy happens between regular people who are not, or not yet, ambassadors. Personality, mindset, attitude, vision, planning, preparation, and even courage defines those who are masters.

The book’s chapters set the stage for you to become a masterful negotiator versus shooting from the hip and operating on chance and luck. Topics presented include the role negotiations play in real estate transactions, how they influence them, and best practices to reach successful real estate agreements. Read an entire chapter about contracts, the true currency of real estate transactions.

Practical, the book aims to break through any pretenses. Simultaneously, it provides you, the reader, with negotiation fundamentals, strategies and tactics, common negotiating pitfalls, and ways to overcome any fears about negotiating. Find techniques, tips, a checklist, and other resources at your fingertips.

And one more thing: real estate transactions often involve large dollar amounts. And sizeable sums bring emotions to the surface. Most books written about negotiations in real estate focus on “analyze the numbers and base everything on them.” While that approach is fine, it lacks the many nuances that enter any negotiation, including those in real estate.

The pages you are about to read contain what I have learned about real estate negotiating over the past twenty years. I refine aspects of these teachings every day. These pages then contain what I value, and how the knowledge, experience and expertise captured in them enriches me in my profession - and in my life.

The Art and Science of Real Estate Negotiation is specific to real estate, yet many of its topics are transferable to other areas of your life. If you, like many people, are more interested than ever in the fascinating world of negotiations, read on.

I know that you may have read or are reading other books on the topic. That is great. I also know that “learning to negotiate” is trendy now. Many law firms and consultancies and prestigious universities offer negotiation courses and certificates.

Forever interested in the topic, I checked a few of these programs out. The Harvard Negotiation Project is one of them. Its name alone is prestigious, and its cost reflects this reality. Similar programs charge much money for knowledge, information and role playing.

Of course, it is wonderful if you attend one of these programs, but why not start with valuable information about negotiating that is specific to real estate and costs a tiny fraction?

Especially when this book aims to add value to your real estate buying, selling, and investing. I wrote this book to empower you to be a better negotiator. Once you read the book, I hope you agree that you are getting much more than you paid for. Ready?

Go ahead, turn the page.


[1] All names of individuals, colleagues and clients have been changed to protect their identity and to maintain confidentiality.

About the author

Gabrielle Dahms is a real estate investor, broker, and writer who also holds a master's in history. She has published 100s articles and blog posts about real estate and invested in real estate for 17 years. An avid traveler, she speaks three languages, loves yoga, and lives in San Francisco. view profile

Published on December 01, 2020

Published by Booksmart Press

30000 words

Genre: Business & Management

Reviewed by