I recently wrote a Featured Post about negotiating. I stressed how important it was for people to “walk” at some point in negotiations, either before the property was placed under agreement or at the closing table.
The consistent sentiment from those of you who responded was that you worked hard in the beginning of the engagement to develop a set of expectations from your client , and then tried as heard as you could to keep that “wish list”, if you will, in front of the client, at all stages, with the objective that the client would not change course and start to ask for new concessions, normally late in the game.
This approach appears commendable. Almost everything in our business improves with preparation and diligence. I would suggest another important element when you are speaking with your client early in the game. Tell the client that emotions should be “left at home” while they are negotiating for their home. As much as they want the home, or want to sell the home, they need to maintain a “poker face” throughout the process.
In my experience, any significant show of emotion by Buyer or Seller opens up the doors to the other side. A client needs to be comfortable with his or her goals for the transaction. They may change somewhat after the home inspection. Perhaps, they need even to be put down in writing. But, I have found that we do out best for our clients if we remind them, gently but firmly, that they should not lose sight of what their goals were in the transaction and what they really expected.
Sometimes the best way to remove emotion is to remove the client. Urge your Seller not to attend the cllosing. Nothing is added by the Seller’s presence, and the chance for an emotional flare-up is increased by the Seller’s presence. The parties do not need to like the people on the other side; they just need to accomplish what they originally set out to do, purchase, or sell, the property, on terms which they have assessed as fair. If we can keep them focused on that course, we are doing our job,