Many people believe that the other party is the enemy during a negotiation. This is simply not the case. A well trained negotiator will help get what their clients want, while helping the other side get what they want. In the end, a good deal will allow both parties to feel like they have won. Being assertive, personable, and knowing the right questions to ask is fundamental to achieve this.
Negotiation is more than winning on price alone. For example, the deal may hinge by giving flexibility to the seller on the moving date, or possibly allowing the seller to rent back the home for free between the acceptance of the offer and the move-in date. Remember that when it comes to residential real estate sales, there are two realtors involved. One represents the buyer while one represents the seller. Negotiation involves both agents working together to find solutions beyond just hammering out a price that is acceptable to both parties.
An effective negotiator will not let their emotions interfere with their goals. They will maintain a level head and explore all options thoroughly, working calmly toward getting the best deal possible.
An experienced realtor will develop rapport very quickly with the seller's agent. Ultimately, the basis of winning a deal during a hot market is strong ethics and established trust between the buyer's and seller's agent. Once established, effective negotiation will separate a good realtor from a great one.