Call Leaders

Monica Reynolds

Monica@hellerthehomeseller.com

Aaron Simons

Aaron@hellerthehomeseller.com

Call 17 – The Negotiation Process

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Dave Ramsey Training

TABLE OF CONTENTS

Guidelines for this Course

Goals & Quotes

3

3

Think About This:

1. Belief Systems

2. Personality Styles

4

4

3. The 3 Stages of the Negotiation Process

The Offer

Counter

Acceptance

5

6

6

4. Negotiation Mistakes

5. Are you Negotiating for Yourself

7

7

Email ~ Buyer Escrow

Objection Handlers

8

9-10

Top Ideas From Today's Call

Answer Key

11

11

Review of Previous Calls

Call Schedule

12

12

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Dave Ramsey Training

Call 17 ~ The Negotiation Process

Goals:

1. Tips on Negotiating.

2. The 3 Stages of Negotiations.

3. Common Mistakes During Negotiations.

4. Common Objections Handlers During Negotiations.

Quotes:

“You will either learn to manage money, or the lack of it will

always manage you.” - Dave Ramsey

“Normal is broke! So be weird!” - Dave Ramsey

“If you do poor people stuff you will be poor. If you do rich people

stuff, you’ll be rich.” - Dave Ramsey

Guidelines for this Course

1. Only paid participants may listen to the call.

2. Download any materials prior to the call to maximize the training.

3. Be PREPARED.

4. No distractions or interruptions.

5. No cell phones in the area.

6. No checking email while on the call.

7. Do not put the call ON HOLD/NO SPEAKERPHONE

8. Come to the call to learn, to participate and have fun!

9. *6 to Mute.

10. *6 to Un-mute.

11. All weekly emails will have a link to the prior week’s calls.

12. All materials will be sent to you on Monday and a reminder on Tuesday.

Call Leaders:

Monica Reynolds: monica@hellerthehomeseller.com Aaron Simons: aaron@hellerthehomeseller.com

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Dave Ramsey Training

a. It’s important to know your clients __________ of the negotiation.

Are they wanting to feel "victorious" and feel like they’ve fought

hard and won? (Driver/Analytical)

Or are they just wanting to get to the ___________ as quick as

possible with minimal back and forth? (Expressive/Amiable)

Do they understand the time frames of the negotiation? (All

personality styles)

a. Driver (D) - Bottom line, quick to respond.

b. Expressive (I) - Wants to know who they are negotiating with on

the contract.

c. Amiable (S) Wants it to be a _______ for everyone.

d. Analytical C - Will focus on the net sheet making sure they

have all the information they need to move forward.

Think About This!

1. Belief Systems

2. Personality Styles

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Offer Do you know where your client wants to end up in

the negotiation?

Are they basing it on what they can ________ or perception of

value?

Are there other options or is this the only option for them?

Is it an investment or their personal residence? What is the

difference in how they write the contract?

1. Numbers must make sense.

2. _______________.

What type of sale is it?

1. Traditional/equity

2. Short Sale

3. Foreclosure

How long has it been on the market?

Have they done a price reduction? When?

What are the ideal time frames for the buyer/seller?

What are the most recent comparables?

Has the buyer written offers before and been burned?

Are there multiple offers on the property?

Have you spoken to the agent and gotten as much information

as possible?

1. What has the _________ been like?

2. Have they had any offers? What have they turned down?

3. What is their ___________?

4. How did they determine the sales price?

5. What are their ideal timeframes? Would they consider a

lease-back?

Prepare the buyer with examples of contracts that were

__________ by price on previous properties you have worked on

prior to them as your client.

1. Example: Take a rejected offer and write REJECTED in

red ink. Write what the property ultimately sold for and

closed. Print off a copy of the listing circling the list

price.

3. The 3 Stages of the Negotiation Process

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Counter

Always ask the client what they would like to do.

1. _________

2. _________

3. _________

The more counters there are the less excited the buyer/seller

become about the sale.

The longer the negotiation process goes on the more the buyer

is at risk of competing with another offer and losing interest.

Always counter with your services to give you maximum

control of the escrow.

Acceptance

Are they clear on what will happen ________?

What are the timeframes for the buyer/seller to perform?

Have you set their expectation for ________?

1. “Mr./Mrs. Buyer it is completely normal for you to wake

up tomorrow questioning whether you’ve done the right

thing. Please know all buyers feel the same way and

remember out of all the homes we’ve seen this one

absolutely fits your needs the best and we negotiated a

great price for you.”

Do you have a system for opening escrow?

What are the buyers/sellers ___________ at this point of the

transaction?

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Dave Ramsey Training

a. Accepting Terms: Assuming the other person won't change

their terms.

b. Accepting ___________: Assuming what the other person says

is wholly true.

c. Hurrying/Delaying: Negotiating to quickly/slowly creating

resentment.

d. Hurting the ___________: Getting what you want but making

an enemy of the seller/buyer/agent.

e. Issue Fixation: Getting stuck on one issue and missing greater

possibilities.

f. One Solution: Thinking there is only one possible solution.

g. Over-Wanting: Wanting something too much.

h. Squeezing Too Much: Trying to gain every last advantage.

i. Talking Too Much: Not gaining the power of information from

others.

j. Thinking in ___________: Assuming that there are only a few

possibilities.

k. The Walk-away Trap: Becoming too fond of your walk-away

option.

a. Cooperating commission is negotiable!

b. Don’t just accept the terms advertised in the MLS.

c. “Mr./Mrs. Listing Agent, I’ve showed your listing on Xyz St. to

my buyer and it’s definitely one of their top 3 choices.

However, one of the other properties they are interested in is

actually charging a 3% cooperating commission. If I could get

my buyer to offer on your listing and the we can come to an

agreement on terms, would your seller be willing to pay a 3%

cooperating commission?”

4. Negotiation Mistakes

5. Are you Negotiating for Yourself?

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ELP Client,

Congratulations on getting your offer accepted on XYZ St.! Here are the next

steps:

1. Get your earnest money deposit ($10,000) to escrow ASAP. This can be done

by dropping it off, overnight mail, or by wire transfer. If you would like to wire

transfer just let me know and I will email you the instructions. Here is the info

for Escrow:

2. Schedule the home inspection. The companies we recommend are Avalon

Home Inspections (123.456.7890) or California Building Inspections

(123.456.7890). If there is someone you know that you'd prefer to use just let me

know. We will want to get this scheduled as soon as possible. It is not imperative

that you be here, the choice is yours, some clients like to attend the whole

inspection (2 hours), some like to show up for the end to get the recap, others

prefer to wait for the report and speak to the inspector over the phone with any

additional questions.

3. Kathy in our office it part of our closing team and will be in touch shortly to go

over the time frames in the contract. Her job is to coordinate with escrow, title,

and the lender to make sure the escrow process goes smoothly, her contact info

is:

4. I'll get the fully executed contract to the lender so they can get the appraisal

ordered immediately. I will also make sure they contact you so you can lock in

your interest rate.

Thank you again for the privilege of working with you!

All the best,

ELP

Email ~ Buyer Escrow

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We don’t want to pay that much!

I can certainly appreciate that. Let me ask you this, based on all the properties

we’ve seen do you agree this best fits your needs for you and your family? And

you do plan on living in this home for the next 5-10 years, right? Great.

Here’s what I don’t want to see happen and yet unfortunately it happens all the

time. Buyers will walk away from the perfect home over a few thousand dollars

and end up having to settle for their second choice.

I don’t want you to have to drive by this house everyday kicking yourself that it

could have easily been yours. You don’t want to do that do you?

Of course not. let’s do the right thing and accept the contract so you can get

excited about living in this great home.

We just put our home on the market and it needs more time.

I completely understand your concern and the fact that we have an offer so

quickly means our marketing efforts have paid off. It also means that this

particular buyer has been in the market waiting for a home just like yours to

come on the market. If we ignore this buyer now chances are the next buyer will

like your house but they won’t have nearly the attraction or emotional

connection that this buyer has to your home. Let me ask you this, which buyer

do you think will pay more and be fully committed to closing escrow?

We want to counter with _____ (price, terms, personal property)

Great, I can appreciate that you want_______. Can I share with you how a

counter offer works?

Objection Handlers

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If you change one word on the contract/counter you now no longer have a

contract and you’ll have to find another buyer who loves the home as much as

this buyer does. So, I really want to make sure you are willing to gamble

losing this deal over _________.

YES, we are.

Ok, so I just want to make sure I’m clear...you are willing to lose this deal over

_________ knowing we may not get another offer in 90 days? Is that what you

really want? Are you willing to put your moving plans on hold or should we just

accept the contract so we can get you moved to ____________?

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Dave Ramsey Training

1.___________________________________________________________________________

2. ___________________________________________________________________________

3.____________________________________________________________________________

4.____________________________________________________________________________

Expectations

Bottom Line

Win-win

Afford

Emotional Buy

Activity

Motivation

Rejected

Accept

Reject

Counter

Next

Remorse

Emotions

Statements

Relationship

Absolutes

Answer Key

Top Ideas From Today's Call

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Dave Ramsey Training

1. Increasing Conversion Rate.

2. Your Schedule is the Foundation of Your Business.

3. The Buyer Package.

4. The Language of Sales.

5. Preparing for the Listing Presentation - part 1

6. Preparing for the Listing Presentation - part 2

7. Sales Techniques for Buyers and Sellers - part 1

8. The Buyer Consultation - part 1

9. The Buyer Consultation - part 2

10. The Listing File

11. The Listing Presentation - part 1

12. The Listing Presentation - part 2

13. The Listing Presentation - part 3

14. Listing Customer Service

15. The Price Reduction System

16. The Close

17. The Negotiation Process

● Every WEDNESDAY at:

9:00 am PST

10:00 am MST

11:00 am CST

12:00 pm EST

● The call will be 45 minutes. Please arrive 5 minutes before the call as we

will start promptly.

● Your call in information:

○ Dial: (559) 726-1200

○ Access Code: 270511#

● To hear a recording of the call:

○ Dial: (559) 726-1299 (available after the call)

○ Access Code: 1270511#

Call Schedule

Review of Previous Calls