Center for REALTOR® Development 109: Mastering Win-Win Negotiation Strategies with Evan Fuchs: Part 2

Evan Fuchs is back with us for Part 2 of our conversation on negotiation, a favorite topic of mine! Welcome back! 

Markets will shift, and changes are happening. We need to remember the core tenets and basics of good negotiation while remembering that the details change from client to client. Some of you work in different markets or states, and you need to be aware of those details to help you negotiate specifically for what you and your client need. Negotiation is one of those significant topics I suggest we learn about constantly. 

Evan Fuchs is a 28-year award-winning REALTOR® and industry leader from Bullhead City, Arizona. Evan and I discuss training, and we go into one book with four tenets that can help us create win-win scenarios or at least manage the situations with a good attitude. Sometimes, operating on those principles helps us not to become so emotionally involved. There is always more going on under the surface when negotiating. We’re going to discuss how that affects your conversations as well. Let’s join Evan to level up some negotiation today! 

[2:07] We are talking negotiation, and if you didn’t hear our first episode, we hope you’ll go back to that; we discussed things like the tangibles and intangibles of negotiation and why you need to have negotiation skills. We’re giving you the tip of the iceberg. We’ll talk later about some training you can get. 

[2:33] We will share some great principles in this episode and discuss how agents can improve their skills for negotiating on their behalf. We will need better communication in different spaces where the terms are unclear. 

[3:25] Evan cites two episodes Monica did with Brent Lancaster on the Buyer Representation Agreement to help negotiate with your clients. We agents must understand our obligations under the law, the Code of Ethics, and the agreements we must follow that create a frame for our business to stay inside. 

[4:05] Inside that frame, your business is your canvas. You can paint your canvas any way you want. You can say, “Here is how I’m going to run my business, as long as I’m not going out of bounds.” Then you bring your business to the market, and it responds if it sees value in hiring you for what you bring. 

[4:31] It’s not easy to set boundaries and know the rules of engagement. Brokers are deciding what parameters will be a win for their agents and brokerage firms. With some brokerage firms, your business canvas is not as significant. Bring your ideas and creativity back to your broker. 

[5:44] The difference between your business model and another agent’s model is what will appeal to potential clients. Explaining what you charge and what the client gets from you will hire you. Be very intentional about understanding who your target audience is and what services you offer. 

[6:39] Evan says finding clients can’t be an accident. You must be able to show you how to walk the walk and say, ‘This is why I should be here representing you.’

[6:51] Sometimes, in a client meeting or a class, however much she prepares, people will ask Monica an unexpected question for which she doesn’t have a great answer. Evan says it’s essential to give feedback to yourself on what worked and what didn’t work, and then you iterate on that. Have a place to practice! 

[7:51] Hold scenarios or role-playing with partners in your office, coaches, or spouses. Practice the words and get feedback before you go live. Once you go live, measure what works and what doesn’t, and then try again. It’s a different ballgame for many people, and you might not get it right on the first try. 

[9:10] Evan talked with his college daughter about what’s happening in real estate. It helped him see another perspective. That’s always a win. 

[9:40] Preparation for negotiating is essential. Be intentional.