Negotiation Strategies and Techniques Flashcards

A buyer's offer is contingent on selling their current home. How can a CRS agent make this offer more appealing to the seller?

Answer: Provide a realistic timeline, pre-marketing evidence of the buyer's current home, and a kick-out clause agreement

Demonstrating that the buyer's home is market-ready and agreeing to a kick-out clause reassures the seller they won't be stuck waiting indefinitely.

What is the purpose of including a personal letter from the buyer in a competitive offer?

Answer: To appeal to the seller's emotional connection to the home and differentiate the offer

A personal letter can humanize the buyer and resonate with sellers who have strong emotional ties to the property, potentially tipping the scales in competitive situations.

In negotiation, what is 'bracketing' as a strategy for a buyer?

Answer: Making an offer low enough so that splitting the difference lands near the desired price

Bracketing means placing an offer strategically so that if both sides meet in the middle, the result is close to the buyer's target price.

Which CRS negotiation principle emphasizes separating people from the problem in a dispute?

Answer: Interest-based (principled) negotiation

Interest-based negotiation, from the Harvard model, focuses on underlying interests rather than positions and treats the problem as separate from the relationship.

When is the best time for a CRS seller's agent to present multiple competing offers?

Answer: At a set deadline after establishing a multiple-offer disclosure process

Setting a clear offer deadline and disclosing the multiple-offer situation to all buyers ensures fairness and maximizes the seller's negotiating position.

A seller counters at full list price after receiving a below-list offer. The buyer finds this unacceptable. What should the CRS buyer's agent do next?

Answer: Present market data supporting the original offer and make a revised counteroffer

Supporting the buyer's position with objective market evidence and keeping the negotiation moving is the professional approach to a wide gap between parties.