Negotioating is a dialogue that happens when there is a difference in mutual interests and one part tríes to convive the other of thinking or acting in a certain way. The real estate world does not escape of this dinamic, and when taken to the área of sales, negotiationg is an art form.
A good negotiator, is a persona that develops a series of skills that allows him to interact optimally with every person or group. Therefore, we have studied some of the best techniques that you may apply in order to negociante with success.
Win – win strategy
This technique consists in trying to come to an agreement where both parts have equal benefits. This is the most recommended way because it is based in cooperation and reliability.
Sometimes the complete opposite can happen where one of the parts is in disadvantage. Nevertheless, you should avoid it because it creates not only a competitive atmosphere but destroy business relationships as well.
Tips for a good negotiation
- Planning: this is they key to success in a negotiation. It will allow you to manage the information and boost your confidence. Keep in mind what you want to achieve and take into consideration some eventualities that might present.
- Atmosphere: for both parties to be comfortable, try to create a calm atmosphere of respect. Choose a neutral place and stay calm, no matter what the negotiation turns into.
- Attention to detail: do not leave anything to chance or take actions for granted. Pay attention to every small detail, specially when it comes to terms and conditions.
- Investigate: know the other person. Before getting together, do a small research of the other part to know their style of negotiation, likes, objetives and other factors to take into consideration.
- Flexibility: probably the conditions and situation will start to change, so it is important to have the ability to adapt to this changes and situations, finding alternative solutions.
Technics
Propose
This promotes cooperative negotiations. You should have the ability to come up with fair and balanced idead, this refers to the space between what you are looking forward to (condition) and the other person wants (offer).
There are two types of proposals; abstract and concrete. They can be combined with one another and the position of the negotiation changes. For example: if proposal is concrete – abstract, the first part will have advantage or more power over the other one.
Time out
This is used when you are further into the negotiation but have not come to an agreement and you need a pause to change the rhythm of it. This is great to analyze the situation and reevaluate your objetives.
- To come to an agreement, there are different technics:
The first one is called the steps, it consists of dividing the negotiation into parts, where both parties benefit off from each step and are willing to move forward.
Then it comes the option of making a package, when both parts have set their interests they make a package of conditions and it can be exchanged.
And at last, expansion technic. This happens when you agree to elements that were not contemplated at first and this usually happens in cooperative negotiations.
For every real estate agent, is important to develop negotiation skills due to the fact that is happens on a daily basis. It is fundamental to be assertive and integrated professionals, and to been prepared will give you a great competitive advantage, but keep in mind that ethic should always come first.
