Malcolm Gladwell popularized the ‘10,000-hour rule’ in his book ‘Outliers,’ suggesting that achieving mastery in any field requires roughly 10,000 hours of practice. While this idea is debatable in various respects, I wholeheartedly agree with the underlying premise that dedication and effort put into a skill can lead to mastery over time. This is the level of commitment I bring to mastering negotiation in real estate.

But how do we define “mastery”? Take a great guitarist, for example. If you ask them to play a riff from Led Zeppelin, they can do it on command, seemingly without much thought or effort. The skill has become second nature to them. 🎸

At this point in my career, that’s how I feel about real estate and my ability to negotiate the best possible outcomes in any transaction, despite countless variables, including the complexities of agency.

(The concept of agency complicates matters because I don’t negotiate directly with the buyers or sellers; I communicate through their agent, whose skill and experience can vary widely.)

Negotiating has become second nature for me. I instinctively know what questions to ask, when to ask them, how to interpret the answers, when to push, when to pull back, when to imply something, when to be explicit, when to sound tough, when to be friendly, when to move quickly, when to slow things down, and how to dig for information that may not be readily offered.

To be clear, the circumstances are not always in our favour. For example, I could be working with an unskilled and inexperienced agent on the other side of the transaction. In this case, I know how to help the other agent, even without them realizing it. I’m not claiming I can always secure exactly what my clients want. However, I do consistently achieve the best possible results given the circumstances we have to work with. 

Negotiating Mastery is one of the many reasons I can justify the fees associated with my work, which, by the way, are the same fees as what almost anyone else charges, whether they’ve achieved mastery, are a beginner, or somewhere in between. 

There are numerous other reasons I’m worth every penny. But Negotiating Mastery is a big one; it can sometimes mean tens of thousands more in my client’s pockets, whether buying or selling. Or, in many cases, it can be the difference between success and failure.

I wrote this because someone recently asked me to justify the real estate commission charged by my brokerage. I was a bit dumbstruck at the time because I tend to think people inherently know what they’re getting with me. 

I’ll be the first to admit there’s a significant variance in skill level in my profession. But, if you’re looking for Jimmy Page-level skill in real estate negotiations (but not guitar playing), I’m here for you!