Lay groundwork for successful negotiations: business builder tip #3

To improve how you negotiate with fellow real estate professionals, boost your confidence before you start negotiating.

One strategy is to make your negotiating target optimistic but justifiable, says Karel Murray, a real estate trainer, in the story “Work Smart! Business Hacks to help you kick-start 2017” of Illinois REALTOR® magazine.

Also, it is important to understand people’s wants and needs before the negotiating begins, says Murray, one of nine industry experts and REALTORS® who share their insights in the January magazine story. Want to know more? Get the details.

Do you hear the echo?

The next generation of home buyers is young, tech savvy and places a high value in a sense of community. Regardless of what you call them – Generation Y, Millennials or Echo Boomers – this group is sure to have profound impact on the future housing market.

So what is this generation looking for when it comes to buying a home? Illinois REALTOR® Magazine talked with some young Illinois REALTORS® and their Millennial clients to get a better idea of the preferences and priorities.

Here’s a glimpse:

  • Young buyers do a lot of their initial research regarding neighborhoods, home prices, even financing options online before they ever call an agent – REALTOR® Daniel Merrion.
  • This group of buyers expects and demands a quick turnaround when it comes to information and answers, often preferring text messages – REALTOR® Kyle Killebrew.
  • Young buyers want a REALTOR® who isn’t pushy but is quick, informed and easy to reach at all times – REALTOR® Mario Garcia.

Ever wonder how Millennial you might be? Take this quiz, “How Millennial Are You,”  from the Pew Research Center and find out if you fit the profile of the Silent Generation, Baby Boomer, Generation X’er or Millennial.

Do you have a tattoo, a profile on a social network and a cell phone instead of a landline phone? Then you probably have a lot in common with Millenials. If you haven’t gotten a text message or watched an online video in the last 24 hours, then you probably have less in common.

Get smart about real estate phone apps

Every time you turn around it seems as if someone has created a new mobile application for your smartphone. But how do you wade through the thousands of options to weed out the “must-haves” from all the “also-rans” vying for your attention?

To get a better idea of some of the best real estate apps out there, Illinois REALTOR® Magazine talked to two industry tech gurus – Amy Chorew, a national real estate technology coach with The Tech Byte; and Joel Burslem, a tech and marketing expert with the real estate marketing firm 1000Watt Consulting.

You can see some of their favorite apps in the article, Getting ahead in real estate: There’s an app for that,” in the April digital issue of Illinois REALTOR® Magazine. Many of the suggested apps are free, but they can provide substantial benefits to  REALTORS® who are on the go and need the latest information at their fingertips.

Chorew says more REALTORS® need to be mobile warriors armed with portable and user-friendly tools. Smartphones and mobile apps fit that bill.

“Think about what you do when you’re sitting at your desk and then what would be some of the tools that would help you get that done in the field,” she says. “Anything you do, you will be able to find an app for it.”

Burslem also suggests that REALTORS® look beyond real estate specific apps.

“I think some of the other apps that are interesting, particularly for real estate, are apps that aren’t necessarily listings-driven, but are lifestyle-driven.”

For example, the Walk Score app determines the “walkability” of a neighborhood, while the Yelp app identifies area restaurants and points of interest. Neither is a real estate app, but both can help REALTORS® get more information about a local community, he says.

If they haven’t already, REALTORS® should familiarize themselves with the many apps that are available for their smartphones. Not only could they ease their workload but they’ll also gain a better understanding of information and tools their potential buyers and sellers are using, Burslem said.