{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"109: Center for REALTOR\u00ae Development: Mastering Win-Win Negotiation Strategies with Evan Fuchs: Part 2","description":"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\u00ae 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\u2019re going to discuss how that affects your  conversations as well. Let\u2019s join Evan to level up some negotiation today!  [2:07] We are talking negotiation, and if you didn\u2019t hear our first episode, we hope you\u2019ll go back to that;  we discussed things like the tangibles and intangibles of negotiation and why you need to have  negotiation skills. We\u2019re giving you the tip of the iceberg. We\u2019ll 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, \u201cHere is how I\u2019m going to run my business, as long as I\u2019m not going out of bounds.\u201d 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\u2019s 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\u2019s 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\u2019t be an accident. You must be able to show you how to walk the walk  and say, \u2018This is why I should be here representing you.\u2019 [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\u2019t have a great answer. Evan says it\u2019s essential to give feedback  to yourself on what worked and what didn\u2019t 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\u2019t, and then  try again. It\u2019s 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\u2019s happening in real estate. It helped him see  another perspective. That\u2019s always a win.  [9:40] Preparation for negotiating is essential. Be intentional. What do they need? What value do you  bring to the table? How are you communicating and connecting with them? How am I qualifying them?  How are you communicating what working with you looks like?  [10:21] If you do the preparation and get a win, you know it worked. If it went South, tell yourself to handle  that differently next time. Over time, you work out systems where you are repeating success. Monica  encourages you to learn even from your accomplishments.   [10:56] Monica is confident and open-minded when she goes into a meeting. She listens to what their  needs are instead of selling them on herself. She wants to hear what they\u2019re saying, even if she doesn\u2019t  have the answer for them.  [11:29] Evan says if you want to improve relationships with other people and be a better communicator,  listening, hearing what they say, asking questions, giving feedback, and being interested is where rich  relationships come from.  [11:49] Sometimes, just listening and being there, you\u2019ll hear the person tell you what they need from you.  If you were too busy talking, selling, or presenting, you might have missed that and missed out on a great  client.  [12:06] Monica reminds agents that going through their broker or association\u2019s paperwork provides a  structure. It\u2019s like a third party in the negotiation.  [12:43] Evan talks about appealing to different learning styles. It\u2019s always better to ask somebody a  question than to tell them something. It\u2019s also better to show them something than to tell them something.  Try to mix those things. Evan would want you to show him the process visually if he were buying.  [13:37] If Evan were selling, he would also want you to walk him through the marketing process with  visuals.  [13:52] You must use leave-behind visuals to show people the market conditions for buying and selling.  The visuals can negotiate for you in your absence.  [14:37] Monica asks the public to interview more than one agent so they see different styles, and it will be  easier to recognize they have a choice between different kinds of agents. Leave-behind items are hugely  important, especially if they are amazing materials. Your professionalism is visible in the materials. [15:18] Be confident as an agent that you belong at the table and believe in yourself. It wasn't meant to be  if the client didn\u2019t pick you up. Confidence comes through preparation, knowledge, and experience.  [16:21] As a new agent, Monica went to every class at her association for two years to gain knowledge  and confidence. Evan didn\u2019t take classes at first but then took a GRI class. After two days, he realized he  had bought lots of someone\u2019s experience, saving him time. It changed his attitude about learning.  [17:55] Monica says not all classes will be perfect but asks you to find the instructors that give you value.  [18:24] There are many helpful books on negotiation. Monica and Evan agree that one book they love is  Getting to Yes. Evan has never found a better book to learn negotiation. It teaches four principles of  negotiating. The authors were part of the Harvard Negotiation Project, and these are proven principles.  [19:28] The principles apply well to real estate negotiation. They support the win-win mindset. You\u2019re  trying to collaborate with the other party without giving up what\u2019s most important to you.  [19:58] The first of the four principles of Getting to Yes is to separate the people from the problem. Very  often, the problem in the way is a people problem. You have to solve the people problem before you can  solve the problem you\u2019re negotiating.  [21:29] When an agent says their client won\u2019t go for that, Evan asks what the agent thinks their client  won\u2019t go for, why the agent thinks that, and then tries to solve it with the agent. If it\u2019s a price, look at  comps together and discuss what constitutes a fair price.  [22:25] What you don\u2019t want to do is defend it and try to convince somebody who\u2019s dug their heels in. Go  back to common ground, bring the temperature down first, and find out why they\u2019re reacting that way. Set  your ego aside. Your job is to save the relationship with this person so you can get to the finish line.  [23:04] The second principle focuses on interests, not positions. Under every position (what), a statement  is an interest (why). The position has one solution. The interest has endless solutions. Understanding why  someone takes a position creates new options for working together to find the best path to win.  [24:23] When somebody says what they want, ask them why or try to find out why if you can\u2019t ask them  directly. Once you know the underlying interest, you have many more ways to deal with it that have  nothing to do with the position. Monica covers this principle in three to four hours in her negotiation  classes.  [25:00] Monica adds that when she needs to understand the why, she loves the phrases \u201cTell me more\u201d  or \u201cHelp me understand\u201d to get them to tell her the why without her asking directly. Evan suggests  checking for understanding with, \u201cIt sounds like you\u2019re saying \u2026\u201d to confirm.  [25:37] The same principle applies to negotiating with the buyer. Find the why under any positions they  take on what they are looking for in a house. The value of a buyer\u2019s agent is to get to the why and expand  the options for their clients.  [26:43] The third principle is to invent options for mutual gain. Don\u2019t view this as a competition, but as  building a relationship. You\u2019ll sit on the same table and look at the problem together. This is where all the  pieces and intangibles come together. This is the time for options and value negotiation. [28:22] The fourth principle insists on using objective criteria. This may need a third party, such as an  appraiser, to provide an objective value. MLS comps and public records are objective. Ask, \u201cIf we can  come up with a fair price, do you think we can make a deal?\u201d Then, you bring in your CMA.  [29:24] When you submit an offer to another agent, include your comparative market analysis that  supports the offer. Review it with them over the phone so that it makes sense; it\u2019s not just an arbitrary  number. On your end, listen with an open mind when you review objective criteria.  [30:04] I hope our listeners recognize how much more there is to negotiation than just conversing and  putting terms on paper.  [30:23] Evan\u2019s final word: \u201cI took a class from Ed Hatch 20 years ago on negotiating, and he said  something that has stuck with me ever since, which is \u2018The negotiation begins long before the amateur  negotiator realizes it.\u2019\u201d  [30:42] \u201cAs professional negotiators, our preparation, our conversations, what we\u2019ve done to get our  clients to understand their negotiations; the person we\u2019re negotiating with may start when they get the  offer, but we started long ago. Do the work, do the prep. What a tremendous advantage that gives you!\u201d  [31:45] Thank you so much to Evan Fuchs for sharing his wisdom with us, learned over many years of  training and action with real people and situations.  [31:53] You can find more opportunities to learn about negotiation at Learning.REALTOR. Evan Fuchs  and Lynn Madison have micro-courses there, and you can also link to the Real Estate Negotiation Expert  Class. Please attend some local negotiation classes through your association or online.  [32:20] Once you start learning about negotiation and looking at these opportunities more objectively,  you\u2019re going to find opportunities for you to learn in your everyday situation. I hope you can find those and  share them. It will improve your business.  [32:38] Thanks for joining us! I\u2019m Monica Neubauer for the Center for REALTOR\u00ae Development. And I  hope you keep busy out there selling lots of properties!  Tweetables:  \u201cIt can\u2019t be an accident. You have to be able to show and walk the walk. \u2018This is why I should be here  representing you.\u2019 That\u2019s the way that I look at it.\u201d \u2014 Evan Fuchs  \u201cThat\u2019s where we are right now. It\u2019s a different ballgame for a lot of people, and they\u2019re not going to get it  right, necessarily, on the first try.\u201d \u2014 Evan Fuchs  \u201cIf you want to improve relationships with other people and be a better communicator with them, listening,  hearing what they\u2019re saying, asking questions, giving feedback, and being interested is where rich  relationships come from.\u201d \u2014 Evan Fuchs  \u201cConfidence is the root of most of these conversations; my confidence as an agent that I believe I should  be here. I bring something worth being at this table. Therefore, I\u2019m going to be a better negotiator about  it.\u201d \u2014 Evan Fuchs \u201cIt doesn\u2019t cost me anything to be nice to you. If it\u2019s important to you that the other person is nice, I just  expanded the pie a little bit by throwing in some intangibles.\u201d \u2014 Evan Fuchs  Guest Links:  Evan Fuchs, Broker\/Owner of Bullhead Laughlin Realty, Speaker, Educator  Episode 100, \u201cExplaining the Buyer Agreement and How to Use it Effectively with Brent Lancaster: Part 1\u201d Episode 101, \u201cExplaining the Buyer Agreement and How to Use it Effectively with Brent Lancaster: Part 2\u201d Getting to Yes: Negotiating Agreement Without Giving In, by Roger Fisher, William L. Ury, and Bruce  Patton  NAR Resource Links  ABR\u00ae Accredited Buyer\u2019s Representative  Additional Links:  Crdpodcast@nar.realtor  Crdpodcast.REALTOR  Learning.REALTOR \u2014 for NAR Online Education  CRD.REALTOR \u2014 List of all courses offered  Host Information:  Monica Neubauer  Speaker\/Podcaster\/REALTOR\u00ae  Monica@MonicaNeubauer.com  MonicaNeubauer.com  FranklinTNBlog.com  Monica\u2019s Facebook Page: Facebook.com\/Monica.Neubauer  Instagram: Instagram.com\/MonicaNeubauerSpeaks  Guest Bio  Evan Fuchs ABR, CRB, CRS, GRI, RENE, RSPS, SRS, e-PRO  Evan Fuchs speaks nationally on leadership, sales, strategic planning, and team building.  A recognized industry leader with 28 years of experience, Evan is a past state president, four-time  REALTOR\u00ae of the Year, and has been the broker\/owner of Bullhead Laughlin Realty in Bullhead City, AZ,  since 1999.  Evan combines his experience in business and leadership with a down-to-earth style to deliver engaging  and actionable programs. In addition to designations and certifications, such as the Accredited Buyer  Representative, Certified Residential Broker, and Real Estate Negotiation Expert, Evan presents and  develops custom programs, including the Arizona Leadership Training Academy. He is also a John  Maxwell Certified Leadership Trainer.  A proud dad, accomplished concertgoer, and lifelong learner, Evan loves collaborating with individuals  and teams who aspire to produce their best work. ","author_name":"Center for REALTOR\u00ae Development","author_url":"http:\/\/www.CRDpodcast.com","html":"