Mastering real estate negotiation: Three essentials for new buyer's agents

Entering the real estate industry as a new buyer’s agent can be daunting, especially when it comes to negotiation.

Surprisingly, the most critical aspects of successful negotiation have little to do with the property itself. Here are three fundamental areas to focus on that will not only help you thrive but also leave your clients raving about you and foster strong relationships with sales agents (so you don’t become a buyer’s agent on a sales agent's 'black book' - it's a real thing).

Shift Your Mindset to Win-Win

Transform your approach from 'buyer’s agent versus sales agent' to 'team players working toward a common goal'. When you create win-win scenarios, everyone benefits.

Instead of solely negotiating on price, consider favourable terms like ideal settlement dates or leaseback arrangements for sellers who need more time. Ask the sales agent, “What terms would be most favourable for your vendor?” or "Do you feel there is anything else outside of price that I can try and negotiate with my clients to best serve your vendor's needs?"

This shows you care about their client’s needs and can often lead to more flexibility on price when you uncover genuine seller circumstances. Remember, behind every property is a story—ask the right questions to uncover it.

Master Your Tonality

In negotiations, how you say something can be just as important as what you say. When requesting a counter-signature or setting a deadline, approach the conversation with a gentle tone rather than making demands. This fosters healthier relationships for future negotiations.

Pay attention to your pacing and vary your tonality to balance curiosity with empathy, especially during tense moments. Don’t underestimate the “power of the pause”—it can transform conversations, and it will undoubtedly change your life if you know how to use it well.

I recommend checking out great salespeople such as Jeremy Miner and Jack De Losa, who are both amazing speakers and provide creative insights on effective communication. Also, try a Toastmasters class if you really want to get out of your comfort zone. ;)

Cultivate Emotional Intelligence

Negotiation is like a dance that requires a mix of self-awareness and empathy, along with authenticity and personality. Control your emotions, particularly during high-stress situations like auctions or uncomfortable pricing discussions.

Your clients are likely feeling anxious during their home-buying journey, so it’s essential to be their guiding light and level head throughout the process.

When delivering news—good or bad—maintain composure and offer strategic next steps with confidence. By acting as the emotional bridge between your clients and the negotiation process, you’ll create a smoother experience for everyone involved.

I believe these are your guiding principles in real estate negotiation. By mastering these three key areas, you can turn challenging bidding wars into collaborative wins for all parties involved. Embrace the learning journey and continue to develop your skills as a negotiator. Your clients — and your future in real estate — will thank you.

Matt Srama is founder and director of The Srama Group.

Read another article about real estate sales: Importance and types of due diligence when acting as a buyer's agent.

Or browse more sales articles.