1. PRESENTING AND NEGOTIATING OFFERS

2. What We Will Cover Review Presentation Techniques Review Negotiation Techniques Have Specific Examples of Techniques Summarize Benefits of “Mastering the Close”

3. Attitude Let’s talk about attitude - Your attitude –I might fail (of course you will!) –They might not like me –Earn their Respect –It’s O:K - Your client’s attitude –Understand it! “Ask for permission”

4. You are better then most all of the realtors you will meet (Really!) What goes around comes around The “Golden Rule”

5. Set the Stage Check your attitude Be on Time Appearance Reduce Stress Add some Humor Try to Control Surroundings Just don’t show up – be prepared!

6. Writing a Competitive Offer Getting the Full Price Offer –Verbalize full price offer then write it in –Let buyer make first concession, don’t do it for them –Explain various outcomes Again – Know the Market! Call to see if there are other offers Don’t waste your or your clients time

7. Contingencies -Sale of Home Tough one Inspections -Due Diligence Period -Money go hard? How to leave Buyer -Wish me Luck! Prepare buyer for counter offers -Buyer’s Remorse

8. Earnest Money –Maximum you can secure –Check (include copy with offer) Financing -Clean financing -Buyers must be pre-qualified Closing and Possession -Ask the Listing Agent Fees and Pro-ration

9. Presenting Offers Remember to Set the Stage First Choice – Always Present Offer –Have Clients Attend –Write a Letter Second Choice – Present Offer to the Other Agent -Third Choice – Present over the Phone

10. Negotiating Techniques - Position of Strength -Remember who’s side you are on - Hint: It is not yours - Do not disclose crucial info @ your client

11. Barriers to Negotiation -Expect to Negotiate -Again, be prepared! –According to NADA: 85 % of Americans dislike the negotiation process –Comps in area –Trends in Market –Are there cultural differences to be aware of? –Be strong with your knowledge

12. Messenger vs. Negotiator What are you contributing? You need to “Add Value” -Extreme Positions -See if they Take It! -The final sales price is a function of market value, not original asking price

13. -Splitting the Difference Review Options with Buyer/Seller -Isolate Good vs. Bad of Agreement Write down good vs. bad points What are costs of not coming to agreement? Might not Always be the Money What does the money accomplish for them?

14. Negotiation Strategies -Hard on the Problem, Soft on the People -Objective Standard -Laws must be based in what is moral “right” -Negotiation requires objective standard -Focus on Interest, Not Position -What are we trying to accomplish?

15. Handling Resistance Three forms of Resistance –Objection –Doubt –Indifference Five Steps to Handling Resistance 1. ___________ 4. ____________ 2. ___________ 5. ____________ 3. ___________

16. Win-Win Negotiation –Purpose is to Gain Agreement –Avoid battle of egos to see who can get most –Examine merit of each issue and work towards mutual gain for both parties Law of Contrast –Pleasure, Pain and Price are relative –What do you present first?

17. Negotiating Differences Minor: accept or reduce to one Major: counter Not even Close: start over Multiple Offers: Deal your own hand –Quit worrying about other party –Determine what client is willing to do –How to write it.

18. Options and Influencing Factors Seller Options –Accept –Reject –Counter –Accept another offer Seller Factors –Time of Market –Competing Homes –Previous offers –Prices up or down –Financing costs Buyer Options –Accept –Reject –Counter –Find another house Buyer Factors –Time Looking –Other homes available –Lost offers –Prices up or down –Financing costs/available

19. Benefits: Advantages of Specific Agreement or Home Sold Purchase price NET Equity Personal property included Buyer $ qualifications Financing method Financing costs Ease of financing Closing date Possession date Down payment Appraisal ease or problem Payment of property taxes Earnest $ amount Work order possibility Pre-closing repairs required Peace of mind Finalize moving plans Stop cleaning the house No more showings No more open houses Life back to normal Buy another home Remove contingency offer Pack up and call the movers Pay off any debts Enroll kids in new school Move as a family Confirm new job start Remove personal property Secure interim financing Know exact equity

20. Summary Review Presentation Techniques Review Negotiation Techniques Have Specific Examples of Techniques Summarize Benefits of “Mastering the Close”