This section is from the book "Practical Real Estate Methods For Broker, Operator & Owner", by Thirty Experts. Also available from Amazon: Practical Real Estate Methods for Broker, Operator, Owner.
Skilful use of facts and arguments which will lead the purchaser to increase his offer and the owner to lower his original asking price, if it be really excessive, is very essential. For the broker, after getting the purchaser interested in a piece of property, must be like a pair of balance scales. Invariably he will find the owner quite up in his price as compared with the purchaser, who is low in his offer. The broker must be able to get the one down and the other up at practically the same time. He must be able to detect the psychological moment when the two minds meet and when he has them evenly balanced draw the contract right then and there. Let him not delay an instant. He should draw the memorandum of contract in lead pencil on the back of an envelope if he hasn't anything else to draw it on. For if he gives the two parties time to consider after they have once struck a balance, he may never get them to agree a second time. Brokers who are clever at closing contracts at a moment's notice possess a most valuable asset.
In showing property to prospective purchasers, the broker should not talk too much. Leave something to the purchaser's imagination; do not insult him by making him feel that you think he doesn't know anything. Give him a chance to let his own mind play on the property and give him a chance to establish his own convictions as to the property's desirability. And above all, the broker should never misrepresent facts, as misrepresentation of fact may invalidate a contract, and besides it is best to be straight and clean cut in all your dealings.