10 Apr Let us never negotiate out of fear, but let us never fear to negotiate
In today’s show we talk with Robert Klaric, author of a book called “Secrets of the Property Expert”, about the do’s and don’ts of negotiation.
Kevin: Robert Klaric has written a book called “Secrets of the Property Expert.” Nice to be talking to you this morning, Robert.
Robert: Thank you, Kev. Always a pleasure.
Kevin: Let’s drill down into the book just a little bit. Chapter 13 where you deal with the do’s and don’ts of negotiation, something I was going through last night. A lot of sellers – and in some cases, buyers – only ever buy or sell one property in their entire life, and the negotiation part of it, while we think it’s all left up to the agent, quite often the seller and buyer need to understand the philosophy of this, as well, too, don’t they?
Robert: Very much so – on both sides of the fence. As you rightly said, the majority of people only do it once or twice in a lifetime, and the agents certainly have the advantage of doing it virtually every day. From a consumer perspective, it can be very, very daunting.
Kevin: I love the saying you have in the book, too, right up at the front of that chapter: “Let us never negotiate out of fear, but let us never fear to negotiate.” The thing I’ve learned about really great agents is they love that negotiation part of the whole thing, whether that’s negotiating to get a listing or even negotiating to get a sale.
Robert: Yes, very much so. Most of the agents and the good agents across Australia love the beginning and they love the end. The bits in the middle sometimes get in the road.
Kevin: The bits in the middle are quite often where agents go wrong. They’re very good at the front and the end, but it’s the bits in the middle that the sellers and buyers in some cases have a bad experience with.
Robert: Yes, very much so. It’s a process, and that is the communication. That’s often where the breakdown is – and the communication from both sides of the fence from the buyer when he’s making offers to the seller and also the way that the offers are presented. The agents get lost in the crossfire sometimes, as well.
The communication is absolutely critical for anybody wanting to buy or sell or a property. Have it in writing. Put things in writing. Maybe it’s an email confirming your discussions.
Kevin: In a negotiation – and you’ve written a bit about this in the book, too – the win-win. Tell me how we go about doing that when there’s obviously a lot at stake here. How do we get a win-win?
Robert: In simple language, it’s so important in the process. A buyer wants to get a property as cheaply as he can, and the vendor wants to get as much as he can, so we’re on opposite sides of the fence.
Ultimately, if there can be a win-win, it’s about making sure that you have the right result if you want if you’re selling, and that’s about being comfortable, thinking, “Yes, I’m happy with the result,” and from a buyer’s perspective, they’re going to know, “Maybe I didn’t steal and maybe I didn’t get a bargain, but I have what I want,” and to me, that’s a win-win.
Kevin: The breed of the agent has changed a lot, though, in the last decade.
Robert: Two things have happened. You need to be professional to survive, and technology – the use of the Internet – that has changed the landscape of real estate. You have only to get on to Facebook to check out a profile of an agent. People can do their homework now. You can go online and you can type somebody’s name in Google, and you can find out – warts and all – who they are and what they are.
I love the fact that people can do it, and I’ve said it in the book “Secrets of the Property Expert” many a time. Your default button has to be research, research, research – no matter where you’re looking to list your property with the agent. Whether you’re in Brisbane, Sydney, Adelaide, Perth, Melbourne, it doesn’t matter, most suburbs now will have five or six real estate offices in that little suburb, so you have choice, and as a consumer, you need to be speaking and checking them all out and doing your research on all of them before you list your property with them.
Kevin: Okay. The book is called “Secrets of the Property Expert” written by Robert Klaric, who has been my guest. Look for it. You can’t miss it; it will be in all the good bookshops.
Robert: As well as on our website, which is ThePropertyExpert.com.au.
Kevin: Good on you, Robert Klaric and “Secrets of the Property Expert,” which is a great book. Don’t miss it. Make sure you pick it up. It’s a great handbook. Robert, thanks for your time, mate.
Robert: Thanks again, Kev. Always a pleasure.