Ed Hatch, an expert on negotiation, shares how you can put yourself in a position of power with clients. His answer may surprise you.
In a people oriented business, mastering the art of negotiation is key. Hatch states, “sooner or later, you have to sit down across from another human being and be confident there.”
Hatch has mastered the power of negotiation by studying people and research over time. He encourages agents to serve as a catalyst to help people make decisions for themselves.
“If you sell a home in your neighborhood, is that a big deal? Is owning a property a big deal? It enhances their quality of life and economic well being. They are gaining an asset. It’s what we do for a living, it’s not minimal, it’s a big deal. How good should we be at this? We should be really good at this,” coaches Hatch.
Negotiating from a position of weakness is setting yourself up for failure. Hatch encourages agents to begin by creating options. The power of negotiation lies in the options.
*Begin the relationship by establishing trust.
“We are going to create power by creating an environment where they trust us.”
Take the time to listen to the clients. Are the clients’ needs being heard, reiterated and understood? Trust cannot be established until the client feels understood.
People love to talk about themselves, let them.
Hatch says think of negotiating like a dance between Frank Sinatra and Ginger Rogers. Rogers is doing all the leg work, the twirling, the detailed motions. Although Sinatra is leading, Rogers is making Sinatra look good. Are you the Sinatra or the Rogers when it comes to the client? True connection comes in making the other person feel like they look good.
Ask, Listen, Learn, Lead
You have to make a conscious effort to listen. It’s often counterintuitive to do this for most of us. Hatch suggests having your body language suggest you are listening, and your brain will follow. Avoid interruption and uninterested body language.
“Learn their music, their form of communication. People have form, they have style,” says Hatch.
What is the client trying to tell you?
For more resources on the power of negotiation, Hatch suggests following along with William Ury on YouTube.
