We negotiate all the time. The price of a house. Our commission. Our kid's bedtime. But how the heck do we do it, and can we create helpful rules to define our negotiating strategy?
I hope so, because I am teaching a class for my company of 950 agents, and am digging deep into this. I wanna come up with a winning class outline. I have found web articles on top tricks for negotiating that spell out the scuzzier side of negotiating - tricks to take advantage of the other side. Ugh... not what I'm looking for. I want the rules for successful respectful negotiating.
I've interviewed the best negotiator I know - the CEO of a huge company. I've also looked at my past transactions where I feel we really scored, then tried to define what I did to create the win. I'm trying to put words to the rules to success in negotiating that work, so I can teach them.
My uber respected favorite negotiator used words like trust, respect, authenticity. I love that. It's not the pit bull tactic I found on line of pulling out your tricks. She said you start with a clear goal in mind of what you want to accomplish. Then you ask a lot questions so you understand the other's motivation. Talk. Build trust. And don't be too anxious. The more dialogue you have, the more the other side will trust you and open up. She said trust and authenticity is important. You need to let the other side know you care. I lke that.
Your goal is to find the common ground where you both get what you want. In real estate, it's not always about price. It's often about timing. Or leaving good neighbors with a nice new neighbor. But if you don't ask about their motivation, you will never know that.
She also said there are many other negotiations ahead in a real estate transaction, so you must set up a feeling of trust and respect to keep the door open for the next negotiation. Try getting agreement on a request for repair if you've ground them down on price already, and they hate you!
So what is your feeling about negotiaing? What is your strategy? Or what doesn't work? Make it good, and I'll use you in my class!
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