In real estate, negotiation is part of daily tasks. We have to negotiate with the property owner, with development, with one that will give us the property for sale or rent, with the media to publish the property and with potential buyers, when it reaches a proposal.

Traditional bargaining is often seen as a clash of wills, where each party tries to force the other to accept its position.

The Harvard method, however, proclaims the need to improve communication to seek, together, the solution that best meets the interests of all parties.

So how can we apply this approach in the real estate?

Consider a typical case: an owner who wants to sell their unit at a price higher than it is worth. Applying the concepts of the Harvard School, we could take the following courses of action:

Ask why: It is important to know the reason for this desire. This could be due to a specific need. Maybe the client needs the money to buy another property, and believes he will achieve if you sell below what you expect.

However, it also may be seeking to acquire several smaller units for different members of your family. In that case, we could offer various options to meet your goal and accept to close the deal for an amount less than initially expected.

Talk about our interests: As a professional living from the sale, the interest of the estate agent is the deal. In addition, if we are looking for a real estate customer loyalty, we must seek an agreement that serves both sides. If the customer feels well treated and considered, is likely to come back and recommend us.

Talking about each other’s interests: The more information collected about the interests of the owner, the better we understand and more chances to propose a solution that works for you. “With the proceeds from the sale want to purchase a particular property, or only with certain characteristics? Why do you care about these features? Could be replaced by others?