January 21, 2008. A client that Bob and Gary are working with asked for help in negotiating a purchase and obtaining financing on some rental real estate that he has had his eye on. The property owner has finally decided to sell, but for many reasons, mainly the condition of the properties, it will be a difficult transaction to complete. So the client asked Gary to meet with him and his banker.
After talking over all of the problems, nuances and ramifications of buying these rental units, Gary suggested a strategy that neither the client nor the banker had thought of. Now begins the negotiations, which is the part that takes sales experience and skill. Selling is not talking someone into something, because that usually can’t be done. In the few instances where it can be done, it can turn out bad. Selling is listening to the needs and points of view of both sides and then matching those needs and goals. Selling is pointing out and explaining the benefits that others didn’t see. That is the fun part of selling.
Gary was so successful at matching the goals of both sides in one transaction that the buyer and seller, after the sale closed and Gary collected his (sizable) commission, pooled some money and jointly paid Gary a bonus, telling him to take a well-earned vacation.
