Here’s my translation

Alan

"Þá hugsum vit Egill samt um sama," segir Helgi, "ok mun þar skilja með þér ok mér sem ykkr feðgum.
„Then we-two, Egill (and I) think together (ie feel the same way) same about (the) agreement (sami, Z1 = sætt),“ says Hegi, „and (it) will there part (impers construction) between you and me (ie we will part) as between (like) us-two father-and-son.

Verðr mér at þér söknuðr, því þú hefir oft ok vel hjá mér verit,
A feeling-of-loss for you comes to me, because you have often and well been (stayed) by me,

ok slíkir menn eru eigi hér í plássi sem þit Einarr at hreysti ok listum, en þó kemr mér eigi til hugar at hamla ykkr í þessu,
and here in (this) place (there) are not such-like persons (men) of valour and skills as you-two, Einarr (and yourself), but (and) still it does not come to my mind to hinder you-two in this,

því til meiri frama ok ríkdóms kann ykkr þetta at koma sem fleirum öðrum."
because this is able (kunna + infinitive) to bring you-two more distinction and wealth-and-power as for more (ie many) others,”

"Vel talar þú um þetta," segir Hrani, ok slitu svo talit.
“You speak well about this,” says Hrani, and so (they) broke-off the-conversation.

11. kafli - Þeir Hrani tóku sér far með Kaupa-Rauði
Chapter 11 – They, Hrani (and Einarr) took for themselves passage with Kaupa-Rauðr (Trader-Red)

Rauðr er maðr nefndr, suðreyskr.
(There) is a person (man) named Rauðr (Red), from-the-Hebrides (lit: South-Isles).

Hann var í kaupferðum gjarnan ok hafði ýmissa landa vöru. Var hann því auknefndr Kaupa-Rauðr.
He was in trading-voyages (plural) willingly and had wares from various lands. He was therefore nicknamed Kaupa-Rauðr (Trader-Red).

Hann kom þetta sumar á Skjálfandafjörð snemma. Tvö skip kómu ok undir eins á Eyjafjörð.
He came this summer to Skjálfandafjörð (Shaking (present participle)-Fjord) early (in the summer). Two ships came also under (?) likewise to Eyjafjörð (Fjord-of-Islands).

En sem Bárðdælingar frétta skipakomu, fara þeir samt aðrir úr nálægum takmörkum at finna kaupmenn.
But (And) when (the) Bárðdælingar (Bárð-Dale-folk) heard of the ships´-coming, they, (the Bárð-dale-folk and) others out of nearby boundaries (from neighbouring districts) go together to meet the chapmen (merchants).

Urðu nú menn beggja megin Skjálfandafljóts fleiri fúsir til at finna Rauð kaupmann en hina,
People (Men) of both sides of Skjálfandafljót (Shaking-Water) now became more eager to meet (the) merchant Rauðr (Red) than those-others,

er fyrir innan at kómu, því betra orð fór af honum ok vöru hans. Kómu þeir Hrani ok Einarr ásamt öðrum á fund Rauðs,
who came inside of (Rauðr) (in the two ships?), because better word travelled of him (ie Rauðr) and his wares. They, Hrani and Einarr came together with others to a meeting of Rauðr (Red),

ok var þat skjótt, at þeir réðust í far með honum, því þeim leizt spakliga ok vel á manninn,
and that was speedily, that they were-resolved (to go) in passage with him, because (it) seemed to them wise (spakligr) and good in the-person (man) (ie he, Rauðr, seemed to them wise and good),

þó skipverjar hans væru flestir á annan hátt ok eigi svo þæglyndir.
yet most (of) his crew were in another mode-of-behaviour and not so agreeably-tempered (þægr + lyndr).

Nú gerði Egill son sinn úr garði, svo sem hann hafði lofat, ok fekk honum mikinn farkost samt ýmsa gripi ágæta,
Now Egill set-in-order (ie quipped) his son (for going) out-of (the) house, just like he had promised, and obtained for him a large ship together with various excellent valuables,

ok þurfti þar eigi at segja, at hann hefði skort á skotsilfri.
and (one) needed not to say (ie it was not necessary to say, or more sensibly one could not say), that he had want of pocket-money.

Þeir Egill ok Helgi fylgdu þeim Hrana ok Einari til skips ok skildu svo við þá með mörgum góðum hjartans óskum.
They Egill and Helgi accompanied them Hrani and Einarr to (the) ship and so (they) parted with them with many good wishes of (the) heart.

12. kafli - Þeir Rauðr kómu til Suðreyja
Chapter 12 – They Rauðr (and co) came to the-Hebrides (South-Isles)

Skömmu eftir þat Rauðr hafði lokit kaupsýslan sinni ok var til búinn, var þat, at þeim gaf burt byr, ok létu þeir í haf.
Shortly after that Rauðr had closed his (the) trading-business and was read (to go), that was that (? Not sure how this fits in) (it) gave to them (ie they got) fair wind (to go) away, and they put out to sea (láta í haf, Z12).

En þat varði eigi lengi, þar til meðbyrr þeirra tók at minnka. Áttu þeir austr langsaman, þar útivist varð löng ok þver. 
But (And) that was not long, until their tail-wind started to diminish. They had (ie spent) in-the-east a long-(time)-together (langr + saman), there (the) being-at-sea (ie voyage) became long and contrary.