Get top dollar for your home with these 8 strategies!

Negotiating 101 in an Agency Relationship

I’ve always got my client’s best interests at heart, and (hopefully) the other agent has their client’s best interests at heart. This is the core of the agency relationship.

I often tell people that if I’ve got another experienced, skilled agent on the other side of a negotiation, that’s 90% of the battle. Yes, we each want what’s best for our clients, but we know how to work together toward finding common ground and, ultimately, a fair deal that satisfies both sides.

But what if the other agent is lacking in experience and skill? 

This is not at all uncommon! After all, there are over 7,500 licensed agents with the Calgary Real Estate Board, and the last I looked, the average agent completed 5-6 transactions per year. That’s not remotely close to what it takes to survive, let alone to gain the valuable experience needed to become highly skilled.

Let’s say you’re a golfer, but you never play more than 5-6 rounds a year. You’re a hacker! But that’s okay, as long as you’re having fun, right? Of course!

But then again, you’re not playing with people’s most valuable asset.

So, what do I do when I have an inexperienced or unskilled agent on the other side of a transaction?

I help them. But I do it stealthily.

For example, I carefully write every piece of correspondence, mindful that the other agent will likely simply forward it to their client. This way, I can speak “directly” to their clients, which is much more effective than having an unskilled agent “translate” what I’m saying. I use text messages and emails very effectively, carefully considering how the other side will perceive what I’m writing. I don’t like to brag, but I’ve developed this skill into a fine art, and it solves a LOT of problems.

Another example is not letting on that I know an agent is inexperienced but speaking to them like, “I’m sure you do the same thing, but this is what I always say to my clients in this situation.” And they say, “Yes, me too!”

This is all about preventing problems before they ever happen. You’d be surprised how often it’s entirely the agent’s fault when a deal collapses, and both the buyer and seller suffer the consequences.

On the other hand, what may seem like a straightforward “easy” transaction is often being “saved” behind the scenes by your experienced, highly skilled REALTOR®.

Those are just a couple of my negotiating “secrets.” I could probably write a book on the subject if I had the time. It’s one of the funnest and most satisfying parts of the job for me.

Until next month!

Ted