If you asked the majority of estate agents the question; “What is the role of an estate agent?”, they would reel off a list of tasks that they undertake to assist in the sale or purchase of a property. Valuing properties ready for sale, marketing properties to maximise the selling price, conducting accompanied viewings, finding suitable buyers, liaising with solicitors and administering the whole sales process ensuring that it is a smooth transaction.

All the above are things a good agent should be doing but there is something that is far more important.

There are several critical components to a successful property deal. One of the most important, but very often undervalued – is negotiation.

Many people wrongly assume that once a property has been listed online, it sells itself. They don’t realise that getting any old deal isn’t the same as getting a great deal. The difference between the two can often be tens of thousands of pounds – life changing money.

To achieve the best possible price for your home, you need an experienced professional handling your negotiations. It is also so important to get to know the individual circumstances of the seller and the buyer involved in the transaction. Their circumstances, their objectives, their outcomes. Without knowing these things, negotiating a deal is virtually impossible.

A top sales negotiator, or whatever job title they have been given, should possess a number of skills in order for them to perform at the highest level;

Emotional Attachment - Buying a property isn’t just a financial transaction; it’s an emotional one. The agent should fully understand this. They should ask buyers many questions to gain insight into their motivation and personal circumstances. All this information will influence the negotiation strategy further down the line.

Body Language - The basic ability to read a persons body provides an amazing amount of information on what other people are thinking if you know what to look for. It's not necessary to be an expert, but being able to read the basics is a great asset.

You already pick up on more body language cues than you are consciously aware of - you just need to interpret them. Reading buyers’ body language during viewings and the dynamic between couples who are buying together can provide valuable intel to have when you get close to striking a deal.

Accurate Pricing Strategy - A top estate agent will lay the foundation for a positive outcome by getting the pricing strategy correct in the first place. Conversely, pricing a property too high when going to market builds distrust and makes the seller look greedy.

Extensive Local Knowledge - It goes without saying that a good agent knows their operating area like the back of their hand. It is invaluable information to bring to the negotiating table and is a great tool to be able to justify the pricing strategy to buyers who try to knock down the price.

Is Personal - The agent must be able to builds personal connections with people so that the negotiation doesn’t feel like a gladiatorial process but an honest conversation. People buy from people they like and trust. Without a personal connection, negotiation is impossible.

Exudes Confidence - An agent must be totally confident in their own ability. If the seller tries to manage the negotiation process themselves, the risk is that the buyer senses inexperience and takes advantage. One of the things that we tell potential vendors when choosing an agent to sell their home is; pick the agent in whom you have the most confidence to sell your home.

Always Thinking - This sounds obvious, but an agent who is always looking for common ground between the two parties and emphasises these key factors will keep the deal moving and will build trust. The ability to react to unexpected situations is a great trait that a good sales negotiator should have.

The English Collins dictionary defines Negotiations as ‘formal discussions between people who have different aims or intentions during which they try to reach an agreement’. Remember, the whole point of negotiating is compromise and that both the buyer and the seller are more anxious to agree than to disagree.

If you wish to discuss any aspect of selling your property, please contact our team on 01773 749972