Editor's Note: Michelle O'Neill and Paul Perry, real estate leaders in the Paradise Valley, Arizona, area, speak on the negotiation skills they employ to represent buyers and sellers of luxury homes in the desert (for lack of a better word) paradise!
Photo Credit: Indy Ferrufino
"The Art of Negotiation" - For all of our careers, these were keywords. Learning this art meant that you could ensure your clients that they would be well represented and hope to receive a great outcome.
In March of 2021, the context around closing homes became much more complicated. As the global pandemic, Covid-19, stifled a lot of the world, real estate exploded. This was true for all of the U.S however, in Arizona the market explosion was far more pronounced. As individuals became secluded in their homes, a mass realization occurred that they could work from anywhere, and sunny Arizona became the place to be.
Month after month, real estate sales in Arizona hit record highs for the number of sales and price. The demand for real estate has created a surge in multiple offers. This had been happening in starter homes for a long time; however, the luxury market had avoided it. Until now...
Photo Credit: Myles Burnett
Negotiation skills... what negotiating? As the market became the most significant seller's market of all time there was nothing to negotiate. With that being said, what ultimately brings power in every market can be further distilled beyond the mere skill of negotiation. I believe that real estate expertise in its true essence manifests itself in relationships, communication, and knowledge.
The pressure of this market has provided me the focus to steep my deals with these priorities in mind. And interestingly enough, keeping relationships, communication, and knowledge at the forefront of our deals has helped us with buyer expectations and winning contracts. We certainly haven’t won them all; but, when our buyers understand the market and they can be patient, it does pay off when we move them into the home of their dreams.
Michelle O'Neill and Paul Perry are the exclusive agents representing the Haute Residence Network in Paradise Valley, Arizona. For more, visit their website.