New Homes Sales Negotiating Pt 1: The Relentless Negotiator
What do you do with a person who will simply not stop in their attempt to negotiate the best possible deal? You’ve all seen it, the relentless negotiator.
We all have to deal with that one customer who simply does not want to give in to price negotiation. They are the relentless dealmaker. You know who I’m talking about, and I know the frustration they can bring.
Before we make moral judgments about that person, let’s consider their vantage point on this issue. For many people, the process of relentless negotiation is not about trying to take you for everything that you’re worth. No, the fundamental objective is far nobler. It is to ensure that no single dollar is left on the table at the end of the negotiation.
You see, some people, whether it’s about their culture or their upbringing, they just simply value their hard-earned dollars more than others. So to leave a dollar on the table in a negotiation, it’s merely not honorable. Now, that’s a far different perspective than thinking that this person is just trying to take advantage of you.
Remember that the relentless negotiator understands that they’re going to get the upper hand when they get under your skin. But that’s up to you. If you can hold fast and remain calm and business-like, you’re going to show them that their tactics are ineffective in getting you to come down off your price.
In other words, there is a stature that great salespeople offer to their negotiating customers, and that stature is one of calm professionalism.
Dealing with that relentless negotiator can be challenging, especially if they seem unwilling to compromise or to budge on their position. Let me give you some tips for handling this type of negotiation process.
Don’t Give in to Pressure
It’s natural to feel pressure, especially the pressure to make a deal, and that is particularly true if the person you’re dealing with is being relentless. But it’s important to stay true to your own goals and values and not give in to pressure simply to get the deal done. Sometimes that customer just needs to hear you say no. They’re going to continue to attempt to negotiate until you stand firm.
Set Boundaries
It’s crucial to set and communicate those boundaries clearly to your customer. This can include limiting how much time you spend negotiating or what concessions you might be willing to make. But by setting clear boundaries, you can help prevent the negotiation from becoming overly stressful or overwhelming.
Consider Alternative Options
If the negotiation is not going well, it might be helpful to consider alternative options. This could include walking away from the deal or offering the home to other customers. Still, it might just mean getting creative with different things to contribute to that particular customer.
Get to the Point of Fair and Final
The term I use here is value purity.
Value purity occurs when a customer believes the price is fair and final. The relentless negotiator very well might need to walk away, and you might need to let them do just that to prove that you’re done. So get used to saying to this customer, we are done. This is our final price.
Close Them
Close them. For someone who continues to try to negotiate, make sure you’re aggressively asking for the sale. It might sound like this. You’ve found our final price; we’re not going to sell this home for less. Would you like to buy it? Make it simple and straightforward. If they come back and try and negotiate even more, just repeat the exact phrase over again.
You found our final price. We’re not going to sell this home for less. Would you like to buy it?
I know it’s not easy to deal with this type of buyer. Still, by staying calm and strategic, you can effectively deal with a relentless negotiator and bring that to a mutually beneficial agreement.
For more on this topic, order my book, Tougher Market New Home Sales. I first published this book in 2008. I am republishing it, having rewritten it for the 2023 market.
Until next time, learn more to earn more!
