BrokerageIndustry News

Nonverbal signals deliver real estate punch

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Do you use body language to your best advantage when negotiating? If not, learning how to read and use nonverbal signals can give you a powerful edge when it comes to negotiating. A number of years ago, my partner and I received a high-end referral from the founder of our company. Our client wanted a property he could lease-option. After showing him more than 40 houses, he decided on a gorgeous, three-month-old home. After preparing the comparables and researching the property, we presented our lease-option offer. During our investigation of the property, we learned the seller was in default on his loan, as well as having IRS liens on the property. Since the seller was not an American citizen, we were concerned our client could be liable for giving the option money to the seller rather than to the bank or IRS. Our attorney made it very clear that because the seller was foreign, at a minimum the brokerage would have to withhold funds to conform to the FIRPTA requirements. When I re...