Negotiation Strategies and Techniques Flashcards

Which listening technique involves paraphrasing the other party's statement to confirm understanding during negotiation?

Answer: Active listening with reflective response

Reflective listening builds rapport and reduces miscommunication by confirming that both parties share the same understanding of key points.

When a seller's agent says 'my client won't go below $X,' what negotiation concept does this represent?

Answer: A stated reservation price or walk-away point

A reservation price is the minimum (for a seller) or maximum (for a buyer) acceptable value; disclosing it narrows the zone of possible agreement.

A CRS agent representing a seller should advise them to respond to a lowball offer by:

Answer: Issuing a counteroffer near asking price with a brief explanation of value

A professional counteroffer keeps negotiations alive and signals the seller's seriousness while communicating market-based value to the buyer.

What is the 'zone of possible agreement' (ZOPA) in a real estate negotiation?

Answer: The range between the buyer's maximum and seller's minimum where a deal can occur

ZOPA is the overlap between the buyer's highest acceptable price and the seller's lowest acceptable price; a deal is only possible within this range.

Which approach is most effective when negotiating inspection repair requests after a home inspection?

Answer: Prioritizing safety and structural issues and requesting a price credit or targeted repairs

Focusing on material defects and offering flexible remedies (credit vs. repair) maintains goodwill and improves the chance of reaching agreement.

What does a 'deadlock' in negotiation mean and how should a CRS agent respond?

Answer: Negotiations have stalled; the agent should explore creative solutions or bring in a mediator

A deadlock occurs when both sides stop moving; introducing new terms, a timeline, or a neutral mediator can break the impasse without abandoning the deal.