Dealing with a real estate ego in a transaction can be challenging, but it is important to remember that at the end of the day, the goal is to close the deal and have a successful transaction.
Issues of ego come up more often than you might imagine. Over the years that I have been negotiating for both buyers and sellers, I have found that ignoring these dynamics can prevent you from achieving your clients goals. What we need are strategies to not only identify these elements and navigate them, but to potentially use them as tools in the negotiating process.
Here are some tips on how to handle big egos in a real estate transaction:
Keep the focus on the deal:
It is easy to get caught up in personal egos, but it is important to remember that the main focus is on the real estate transaction. Try to keep the conversation centered on the details of the deal and avoid getting sidetracked by personal egos.
Even if the other party is acting unreasonably or letting their ego get in the way, it is important to remain professional. This means not getting into personal attacks or letting your own ego get in the way of finding a resolution.
Find common ground:
Look for areas where you can find common ground and focus on those rather than dwelling on differences. This can help to defuse tension and make it easier to find a solution that works for everyone.
Communicate openly and honestly:
Clear communication is key in any real estate transaction. Be open and honest about your needs and concerns, and try to listen actively to the other party. This can help to build trust and make it easier to find a resolution.
Seek mediation or outside help if necessary:
If things are really not progressing, it may be helpful to seek the assistance of a mediator or bring in another party to help facilitate the conversation. This can provide a neutral third party to help find a solution.
Make it work for you:
By identifying real estate ego in the transaction, you can potentially make that knowledge work for you. All of the points we have discussed so far will help provide some focus that will hopefully move things toward a less emotional setting. But you can also make use of this dynamic when needed.
As a negotiating tool, you can pitch ideas in a way to make the ego in the room feel like it was their idea. The key here is to remain detached and simply survey what is going on to determine what you can make work to your advantage when the first 5 steps don’t quite get you there.
Overall, the key to handling big egos in a real estate transaction is to remain professional and focused on the deal, and to try to find common ground and communicate openly and honestly. With patience and persistence, it is often possible to find a resolution that works for everyone.
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