New Real Estate Agent Guide: Negotiating Skills

The art of the deal, as real estate mogul Donald Trump calls it, or negotiation, as it’s more commonly known, is a bit tricky. Negotiating takes tact and skill, as you don’t want to offend anyone. At the same time, you also want to be sure each party is seeing things honestly. Real estate classes often focus on the legal aspects of the process but not the nuts and bolts. Here are some tips to keep in mind when it comes to negotiating.

It’s important to remember that both your buyer and the seller are discussing the most important asset they will probably ever have. It’s a complex process and it can make even a holder of a Ph.D. feel like she’s back in junior high school chemistry class. Start off the negotiations by letting your client know how the process will work. You can even use sample offers and other papers so he or she can see what to expect. This gives you the chance to demonstrate your expertise and answer questions.

Consider what you think the worst-case scenario might be and prepare both yourself and your client for that outcome. Then think about what the best-case scenario might be so you have that set up as a goal to try to achieve. This will help your client understand what the outcomes might be and remove some of the pressure from the process.

Do your research ahead of time so you have all of the information about taxes, legal filings, and any other records you will need to address. It also includes having all of the information from an inspection when possible. The next piece includes knowing when the seller needs to sell and when your buyer wants to make a move. The timing is important because without it you can create more problems than solve them.

Having all of the information together keeps surprises down to a minimum, which also helps keep frustrations down. That confidence in being prepared goes a long way towards a stronger negotiating stance.

Staying objective is also important. Stating opinions about the other party or the likelihood he or she will commit to the offer can create issues. Those problems can come up due to backtracking.

Act with integrity in all of your dealings. Your honesty speaks volumes and leads to both parties trusting what you say. That clears a huge hurdle that can come up during negotiations, especially after an inspection. When you are presenting facts that change the value of an offer, you will be believed. Integrity also means you have to respond to inquiries quickly.

Be courteous, too. A rude agent might be able to bully his or her way into a deal, but no one will really like it. You should create offers that are realistic based on current market trends and the condition of the property. This cuts down on the volley back and forth of offer – counteroffer.

It takes practice negotiating to get to be a master of the skill, but with time, and these tips, you’ll be an expert sooner than you think.

Why Buyers Should Partner With One Real Estate Agent

While teaching real estate classes I will invariably be asked when some in the class are considering buying a home – “Why not use two or three agents? Isn’t that better than just one?” and “How do I choose a real estate agent?”

When I get ready to buy a house shouldn’t I use at least a couple of agents? I will begin by explaining the multi listing system (MLS or MLX). MLX is a computer program that allows real estate agents to place details of real property for sale. This information is then most likely fed to other real estate web sites, however without significant detail. In Arkansas the MLX is accessible to any Realtor that is a member of their local Real Estate Board giving that agent access and authority to sell any piece of property listed.

Realtors work on a commission basis and only get paid when the transaction is fully executed and closed, which means the buyer and/or buyer’s lender has paid the agreed upon price. What is the definition of partner? Webster’s defines it as “one that shares”. You will be sharing confidential information with your Realtor and that Realtor will be sharing their knowledge of the market and expertise with you in order for you to get the best house at the least expensive price.

It is a partnership that once applied to the fullest extent you will receive:

* Better Service
* Professional Support
* Confidence and Protection
* A Real Estate Chauffeur

So, the next time you wonder if two is better than one. Remember that if you choose your Realtor wisely, one is better than five!

How do I choose a Realtor? Frankly, it will sometimes boil down to a personality match, however here are some suggestions:

1. Ask friends and family members if they know a good agent.
2. Narrow down to 2 or 3 agents
3. Contact the Realtors by phone and tell them you are interested in buying a home and you would like to sit down and visit. Make sure the Realtor is aware that you are trying to choose an agent to work for you.
4. Set the appointment at the Realtor’s office and ask the following questions.

* How long have you been in real estate?
* What area and/or price range do you prefer?
* What should I expect from you in this process?

(Note that any Realtor will take continuing education classes on a yearly basis. Look for additional classes and/or expertise they may have.)

Remember-This is a partnership. You and your Realtor will be on a team; a team that will grow significantly once a contract is placed on a house. A good Realtor will also have a team in place consisting of inspectors, lenders, title companies, etc. All working toward the common goal of helping you get the best home for the least amount of money.

Real Estate Classes – Getting Your Education

There are so many things to consider when it comes to getting your education with real estate classes. You need to make sure that you find the right classes, that you’re able to get professional training that meets your specific state’s requirements for real estate, and much more. It might not seem like right now is the best time to take these classes or choose this career, but the truth of the matter is that there is never a perfect time for anything. Even though the housing market isn’t as hot as it was a few years ago, people are still buying houses. Therefore, agents are still needed to sell those houses to them.

You might be investing in classes to become an agent, but there are other uses for the classes. Some people take classes to buy homes or to become an investor, which is a great use for these courses. You can learn so much about real estate through these courses that it doesn’t matter if you’re changing careers or just looking for more information so that you can buy smart. Real estate professionals don’t always become professional just by learning through experience. Classes can give you that extra edge that you might not have had over the rest to allow you to skyrocket to success.

What about continuing education? Real estate classes are there for that reason, as well. Many states have CE requirements for agents, which help to keep them up to date on the latest trends and ways of doing things. If you’re looking for online real classes for continuing education, you can be sure that you’ll find everything that you need. There is nothing better than getting the education that you need through classes and you should have no trouble finding what you need online or through a traditional classroom format.

Old Fashioned Real Estate Classes Or Modern Internet Training

Real estate classes are necessary if you want to get your real estate license. The question is, would it be better to attend old fashioned classroom based training sessions or to get your training the modern way – over the internet? While classroom based education suits some, others find the format restrictive. The pace of the class will move according to the lesson plan and the group involved, so if your classmates learn faster or slower than you it can be very frustrating. On the other hand, internet training is self-directed and you can move at the pace you wish without waiting around for anyone else.

Online real estate classes provide a new way of looking at study. Modules break the information into easily digestible chunks which you can move through at a pace that is comfortable for you. It is easy to review sections that are more challenging to ensure that you effectively grasp the material. Sections end in quizzes that help solidify your knowledge and provide indications of areas that you may need to study more. This form of interactive learning has been proven to help students gain higher scores on tests and retain more information afterwards.

Real Estate Classes Provide Career Opportunities

Real estate classes offered by accredited real estate institutions and schools are for men and women that are interested in starting a lucrative career in the industry. Educational classes cover the basics and the complexities of property management. Even those that attend class without having any expectations toward a career in sales can benefit from the knowledge gained by attending an accredited school. Private investors, mortgage lenders and a number of professionals in many different industries hold real estate licenses.

Real estate is an industry that does not discriminate based on background and education. Opportunities to learn are offered continuously throughout the year allowing for new students to begin their studies at anytime, without waiting for a break in the semester or term. There are no prerequisite courses or college credits required for individuals wanting to begin a career in the industry. People in all stages of life and from a variety of backgrounds have discovered the rewards of hold a real estate license.

No matter what age or prior experience a person may have, learning more about the property trade can benefit anyone wishing to pursue a new career path. Whether a seasoned sales professional or a novice high school graduate, classes offer attendees a comprehensive approach to studying for state and national exams that qualify candidates for licensing. Most classes can be completed in about a six week period with devoted study and average three months to complete for those working in other endeavors and taking courses on a part time schedule.