Ethical Considerations for Negotiating with Clients

Ethical sales hacks I know now I wish I knew starting out: (Here's how to keep the ball in the air long enough to score) ➠ 𝗧𝗵𝗲 𝗙𝗼𝘂𝗻𝗱𝗮𝘁𝗶𝗼𝗻 𝗼𝗳 𝗧𝗿𝘂𝘀𝘁: Building trust isn't just good ethics, it's good business. Early in my career, I learned hard sales might bring quick wins, but trust wins the marathon. Here’s how: • Reputation • Consistency • Authenticity • Transparency ➠ 𝗟𝗶𝘀𝘁𝗲𝗻𝗶𝗻𝗴 𝗢𝘃𝗲𝗿 𝗧𝗮𝗹𝗸𝗶𝗻𝗴: Listening more than talking is a game-changer. Stop thinking about what you’re going to say next. There is nothing more important than giving your full attention to the person in front of you. It's not about convincing; it's about understanding needs and providing solutions: • Active listening • Tailored solutions • Clarifying questions ➠ 𝗩𝗮𝗹𝘂𝗲 𝗕𝗲𝗳𝗼𝗿𝗲 𝘁𝗵𝗲 𝗦𝗮𝗹𝗲: I used to think closing was everything. Now I know providing value upfront builds stronger, lasting relationships: • Build credibility • Share knowledge • Solve a small problem for free Prove you can help by actually helping. ➠ 𝗛𝗼𝗻𝗲𝘀𝘁𝘆 𝗶𝗻 𝗡𝗲𝗴𝗼𝘁𝗶𝗮𝘁𝗶𝗼𝗻: In negotiations, honesty creates more than deals—it builds bridges. Overselling or hiding facts can backfire: • Be upfront about limits • Seek win-win outcomes • Don't promise what you can't deliver How you do one thing is how you do everything. ➠ 𝗥𝗲𝘀𝗽𝗲𝗰𝘁𝗶𝗻𝗴 𝘁𝗵𝗲 ‘𝗡𝗼': Respecting a ‘no’ can be more powerful than pushing a yes. It shows respect and leaves the door open for future opportunities: • Long-term mindset • Respect boundaries • No means not now, not never Don’t ignore them though, there’s nothing wrong with reaching out in the future. There’s nothing better than circling back to share some new info and picking up a new client in the same stride. ➠ 𝗘𝗱𝘂𝗰𝗮𝘁𝗲, 𝗗𝗼𝗻’𝘁 𝗠𝗮𝗻𝗶𝗽𝘂𝗹𝗮𝘁𝗲: Education is the heart of ethical selling. Help clients make informed decisions, rather than pushing for a sale with: • Clear explanations • Informative content • Honesty about pros and cons And moreover, shine a light on new problems they’ll have to deal with after experiencing your product or service. That’s growth—solve one problem and unlock a new better one. Rinse and repeat. ➠ 𝗧𝗵𝗲 𝗣𝗼𝘄𝗲𝗿 𝗼𝗳 𝗣𝗮𝘁𝗶𝗲𝗻𝗰𝗲: Patience in sales was a tough lesson. Rushing clients can lead to resentment. Time can be a powerful tool in building desire and trust: • Don’t rush decisions • Follow-up, don’t push • Build relationships over time ➠ 𝗥𝗲𝗳𝗹𝗲𝗰𝘁𝗶𝗻𝗴 𝗮𝗻𝗱 𝗔𝗱𝗮𝗽𝘁𝗶𝗻𝗴: Ethical sales is about constant learning and adapting. Reflect on your interactions, seek feedback, and always aim to improve with: • Self-reflection • Constructive feedback • Continuous improvement 𝗘𝘁𝗵𝗶𝗰𝗮𝗹 𝘀𝗲𝗹𝗹𝗶𝗻𝗴 𝗶𝘀𝗻'𝘁 𝗮 𝘁𝗮𝗰𝘁𝗶𝗰; 𝗶𝘁'𝘀 𝗮 𝗽𝗵𝗶𝗹𝗼𝘀𝗼𝗽𝗵𝘆. It’s about doing right by your clients and yourself, building a business that stands the test of time. What’s your take on ethical selling? 💬 (Tell me below) ↓

Handling conflicts of interest and ethical dilemmas in my role as a broker is a critical part of what I do, and I approach it with confidence and a clear sense of responsibility. Here's how I tackle these situations: 1. Transparency is Key: I firmly believe that transparency is the best policy. Whenever a potential conflict of interest arises, I address it head-on, openly discussing it with all parties involved. Transparency builds trust and ensures everyone is on the same page. 2. Stay Informed: To make informed decisions, I stay up-to-date with the latest industry regulations and ethical standards. Being well-informed allows me to navigate complex situations confidently and ethically. 3. Seek Guidance: If a dilemma seems particularly challenging, I'm not afraid to seek advice from colleagues, mentors, or industry experts. A fresh perspective can shed light on the best course of action. 4. Prioritize Client Interests: My clients always come first. When making decisions, I consider what is in their best interest above all else. It's essential to remain loyal to my clients and act in their favor. 5. Maintain Independence: I maintain my independence and objectivity in every transaction. While partnerships and relationships are essential in this business, I ensure that they never compromise my ability to represent my clients effectively. 6. Document Everything: Clear documentation is vital to show that ethical standards have been maintained. I keep records of all transactions and communications, which can be invaluable in case of disputes or ethical challenges. 7. Continual Self-Reflection: I constantly reflect on my actions and decisions to identify areas for improvement. Ethical dilemmas can be valuable learning experiences that help me grow as a professional. In the dynamic world of real estate, conflicts of interest and ethical dilemmas are bound to arise. However, I tackle them with confidence, guided by a commitment to ethical conduct and the best interests of my clients. How about you? How do you handle these challenges in your profession? Let's share ideas and learn together!

One of the best lessons I learned early in my career about negotiation: Always leave something on the table for the other party. To many, being a skilled negotiator means: → Ruthlessly optimizing your self-interest.   → Winning, or even better, beating the other party. → Squeezing out every last dime. I don’t agree with this approach. I think we all have to decide whether our primary objective is to: (1) win the negotiation or  (2) win the relationship.  You can choose to go through life leaving a trail of dust comprised of those you interact with, seeing people as transactional resources to be drained at every opportunity. Alternatively, you can go through life being fair and reasonable, not losing sight of the other party’s needs and appreciating that a good deal is one where both parties have likely given a little more than they wanted to when going in. Both parties have left something on the table because they value the relationship as much as anything else. I respect and prefer to work with those who adopt the latter approach. Operating in this manner, while perhaps not necessarily optimizing every short-term economic matter, I believe enhances long-term fiduciary value. I guess it’s hard to know until you’ve seen a full body of work, but at least the ride will be an enjoyable one.