4 Old School Negotiation Tactics that Still Work Today

There’s a reason going the old school route is oftentimes the best path to take. For negotiation tactics, using the tried and true tips, tricks, and approaches still holds up to this day. As a real estate agent, you likely have a good amount of negotiation skills under your belt. But are you equipped with the most reliable, proven negotiation tactics out there? Here’s the ones you need to know.

The Power of Old School Negotiation Tactics

In order to close more deals, build trust with clients, and earn more referrals, real estate agents must have successful real estate transactions. Mastering the art of negotiation with powerful tactics is non-negotiable in having successful closings. There are 4 negotiation tactics that have stood up to the test of time. Take notes on each one and dive in deeper to make sure you have them on hand for your real estate transactions.

#1. Watch Your Body Language

We’re starting at the foundation for a reason: it’s proven, both anecdotally and statistically. A study conducted by UCLA found 55% of messages are interpreted based on the speaker’s body language. That’s a massive influence during negotiating, especially since it’s not spoken. Old school negotiation tactics are rooted in powerful body language.

You need to convey confidence while you’re negotiating, so avoid a furrowed brow or unpleasant facial expression, crossed arms, or clenching your hands or jaw. This will convey confidence and ease, making you more likely to be listened to and demonstrate your authority, helping you secure the upper hand. On the flipside, you also need to watch the body language of whomever is across the table closely. Being observant and keenly aware of how they’re carrying themselves will help you unlock invaluable insights into what they’re thinking, doing, or next steps they’re thinking of taking.

#2. Know When to Say “No” (and Don’t Be Afraid to Say it)

Saying “no” when negotiating can spark fear and dread in even the most experienced of real estate agents. Sometimes it can feel like the long, hard work of getting to the closing table and going through negotiations can feel like it was all for naught if you have to say “no”. But knowing when to walk away is one of the most fundamental negotiation tactics out there.

Rather than viewing it as shutting the entire negotiation or deal process down, you can shift your “no” into a counteroffer that benefits both parties. Saying “no” shows you’re rooted in what you’re advocating and negotiating for, and willing to take the risk of the other party declining and ending the deal. In addition to being comfortable saying “no”, it’s also crucial to learn when you need to say it.

As you work with your clients, you’re becoming deeply familiar with their flexibility and their non-negotiables. If negotiations aren’t budging on a dealbreaker for your client, knowing when to say “no” and walk away is powerful in demonstrating to your client you’ll go the extra mile for their best interest.

#3. Be a Nibbler

“Nibbling” is one of the oldest negotiation tactics in the book. It may be an amusing moniker, but it’s a wildly effective approach. Nibbling is just how it sounds: you ask for things you want, little by little. Think of it like slowly chipping away at resistance. Each time the other party agrees to your small requests, show gratitude and appreciation, and ease to work with.

This is oftentimes best used towards the end of the deal, when spirits are high, everyone feels like a winner, and the other party is confident they’re ahead.

#4. Use Time Pressure, and Use it Wisely

Time pressure is a tried and true tactic for a reason. By lighting a fire under the other negotiating party, you can motivate them to make a move, and do so quickly. Time pressure works by creating a sense of urgency or time limit in order to drive the other party to make faster decisions — or concede to a less than ideal agreement.

For example, if you’re working with a seller client, you might give a firm deadline to an interested buyer’s agent to make an offer on the property. If you’re working with a buyer client, you might use their busy schedule as a tactic to pressure and shape the availability of the listing agent, giving you the upper hand early on. 

These 4 old school negotiation tactics are powerful and can be used across a wide variety of scenarios you’ll encounter as a real estate agent. Login to your RealEstateAgents.com account today so you can get connected with active, local leads today and put your negotiation skills to work!