Today’s first speaker was Genie Reynolds of Magic Genie Realty & Property Management in Denver, CO. Genie talked to us today about how she uses negotiation in her business. Genie is a certified negotiation expert – she took a class about three years ago to learn how to do this. First Genie gave us an over view on selling versus and negotiating.
* Selling – this is the process of inducing the buyer to buy exactly what is offered
* Features – the characteristics of products/service
* Benefits – what buyer will gain from product/service
* Closing – using techniques to get the buyer to say yes
* Negotiation – process of satisfying each party’s needs and desires
* Interests/Priorities/Constraints – understanding what you and the other party need and desire to get out of the relationship or transaction, the order of importance and what constraints may prevent either side from accepting a given offer
* Options – exploring combinations of value elements that might satisfy each party
* Value – creating a value package that will satisfy both parties
* Agreement – reaching the final agreement on the value package that satisfies both parties
Genie gave an example of buying a cell phone using “Selling” and “Negotiation” to keep it simple for us.
Selling a cell phone:
You walk in and tell the salesperson that you need a cell phone for your daughter. The salesperson shows you a phone and says it is their best seller – tells you a variety of features and that the kids love it. Which color should he get for you?
Negotiating for a cell phone:
You walk in and tell the salesperson that you need a cell phone for your daughter. The salesperson asks you specific questions like how is she going to use it – just with family, or family and friends, or perhaps for her job. Your response – she’s 14 and will probably talk to the whole world. The salesperson will then ask more pointed questions like price range, do you need extra features or should it be durable. So you give him/her your needs – inexpensive, easy to use and durable. The salesperson will then give your options and lets you chose – along with a phone case to protect the phone so durability isn’t a problem.
Genie then transferred this idea into the housing market:
Selling a home for your seller:
“Your buyer should by this home because it has all these really neat features and upgrades, is in a great location, with great schools and is priced really low given everything it offers. It is a really great deal for your buyer.”
Negotiating for your seller:
“In our previous conversations you stated that your buyer was looking for a home in the Brainy School District, close to the high school, with a certain floor plan and upgrades necessary for your whole family to enjoy the home. You further said your buyer needs to be under $xxx,000 and they need to close by this date. My seller’s home and his latest offer can satisfy all of your buyer’s needs, plus there are some other ways that my seller might be able to offer additional value to your buyer if you are interested.”
Genie told a story of a recent home purchase that she worked on where there were a couple minor things wrong with the property and one major thing. Genie worked with the seller broker to get carbon monoxide detectors (a state requirement), GFI receptacles for the kitchen and bathrooms and the major one a sinking a patio. When sending the offer after the inspection Genie worked really hard on wording it to make the seller give in – she worded it so that the seller felt that this was the best way to go to get the property sold. The way you speak in negotiating a sale can directly relate with the outcome that makes all parties feel like they won. In the end Genie got the patio half paid for and the carbon monoxide detectors (although she had to install them) and a tree trimmed in the yard that was a 600.00 deal. She worked for her buyer to get the best deal possible and finalize the sale.
So if you need a realtor who will work for you and negotiate the best deal for you give Genie Reynolds from Magic Genie Realty & Property Management a call!
Genie Reynolds * Magic Genie Realty & Property Management * 303.622.6449 * Genie@MagicGenieRealty.com * www.MagicGenieRealty.com
The second speaker we had today was Juli Parrott of Table Mountain Travel in Lakewood, CO. Juli wanted to cover a couple of changes coming up this year with airline ticketing and advertising restrictions – such as when they are advertising a round trip ticket they have to give you the price for round trip and not the one way fare, the other thing that is required including travel agents will have to tell you is the true cost of your ticket – including taxes and baggage fees. This becomes federal law on January 24th. The next item that Juli wanted to discuss with us was online check-in, airlines are getting tighter on their seat assignment – such as the premier club or frequent flyer. If you belong to neither of these groups you may not get a seat assignment until the day of your flight. To get the opportunity for better seats, you can use the online check-in option and do it the night before your flight – this is when the airlines release these “upgraded seats” to the general public. This option also allows you to pre-pay for your baggage and get up to a 3.00 discount, which is assuming that your bags meet the requirements of weight and size. You cannot do online check-in for international flights. There is a special line for those that check-in online and you just give them your luggage and go to security. The last item Juli covered was passports – since 2009 you are required to have a passport to go to Mexico, Canada and anywhere in the Caribbean. However, technically, when you are going on a closed loop cruise such as Miami to Miami you don’t need a passport. But keep in mind that if you take any excursions of the ship and miss your boat – you will have to fly to either return home or the next port of call – and without a passport it will be almost impossible. Juli has had a couple of experiences where clients just figured out that their passports were expired just days before their trip and has had to refer them to the local passport office. The passport office is in Aurora, where you can get a passport with short notice – you have to set up an appointment and pay a lot of money. If you need the information for that office just give Juli a call and she can get that information for you. On last quick note about the Continental and United merger – they are changing their airline mileage accounts and you have to get online and merge your accounts into your new account. They seem to be trying to re-invent the wheel with the new program. It has been very confusing for members who have mileage with both airlines. If you need a travel agent who knows all the ropes and can help plan the perfect vacation give Juli Parrott a call!!
Juli Parrott * Travel Mountain Travel * 303.277.1580 * email@example.com * www.tablemountaintravel.com