09
Sep

To Push or Not to Push… That is the question?

It is our job, as brokers, to negotiate the price and terms at, or close to, what we have advised our clients as being the true value of a property. We basically put our reputation as professionals to the test, and our clients rely on our experience and expertise to deliver on that value. But what if the other side doesn’t agree with you? Now the negotiations begin in hopes of reaching a fair deal that has both give & take by both sides.
This sounds simple, but it is not easy. Each side has its own goals, objectives, and a valuation that they believe to be valid. So, we send in our offer and follow-up to find out that the other side is being difficult, non-responsive, or just stubborn. This is where a decision, or gamble, is made by us brokers.

A wrong decision on your approach can kill a deal that your client may want badly, and you risk being either incorrect or seemingly incapable.

Do we begin to push hard by being persistent and bombard them with data and facts in an attempt to get them to see it our way, or do we advise our clients to walk away?  There are two schools of negotiating that we are all familiar with, and those are the “soft sell,” and the other is the “hard sell.” The soft sell is to present your case and be patient. The hard sell is obviously to be forceful, constantly pinging the other side with “take it or leave it” mentality. I am interested in knowing how many of you consider soft selling more productive, and how many owe their success to the hard sell.

Please click on the email link below and type in the subject line “Push” or “Patience.” I will do a quick tally and announce the results in a few weeks. 

I ask this because I consider myself a soft selling broker. I prefer to keep asking, keep offering, and keep advocating the mutual benefits to both sides. I am a lover not a fighter, so I think the answer is patience, but that does have limits. Also, the is sometimes the concern that this approach conveys the perception that your client is emotionally invested in the property. Does this then become a liability and expose your efforts to exploitation? 

The positive thing about the soft sell is that it provides you with time to get to know everyone’s goals and needs in depth. You then have the chance to determine if there is a button you can push whether it is price, time, or if buying or selling is really that important to the other side.

Now, with the hard sell, you will get the deal, or not. The ’take it or leave it” approach can sure save a lot of time, but we are paid well to get what our clients want. One could then ask if you bring value to your clients if you don’t hold firm at, or around, your original value assessment? It’s a Roll of the dice, since you only make money if you choose the right approach!

This is the question…To Push or Not to Push, or is it just knowing when to stop using either? 

I really appreciate the opinions…Cheers to you closers! 
Please click here to send me an email and type in the subject line “Push” or “Patience.” I will do a quick tally and announce the results in a few weeks.