Word Wednesday: Negotiation

"In business, as in life, you don't get what you deserve.  You get what you negotiate."
-Chester L. Karrass

Negotiation is a big word. It's not a big word because of the number of letters but how big of an impact negotiating is in your life.  Whether you are a good or bad negotiater will have a big impact on how your life goes.

When you think about it, nearly everything we do in life involves some kind of negotiation.  

Successful negotiation is about getting what you want by seeing things from the other person's point of view. You must find a way for the "other" side to see that what you are striving for is in their best interest.  

Negotiation is a particularly big word in real estate.  You do it all day, every day.   Buyers want to buy low.  Sellers want to sell high.  How do you get them to come to an agreement?  You negotiate, of course.  

Sellers must prepare their homes with the buyer's eye in mind.  Buyers must present their offer from the seller's point of view.  Buyers must show the sellers why taking their offer is in their best interest, even if it is for less money than they wanted or expected.  

Many, many years ago, I negotiated for my neighbor to give me some shares of their water rights.  Water rights are a much coveted commodity in this agriculture zone of Washington State.  I needed a partial share of water rights, so I could sell a 3/4 acre parcel of property which would have been almost worthless without it.  I got the water rights and was able to sell the vacant property for a substantial sum on money.  

How did I do this?  Certainly not by telling them what I wanted.  It was all about them.  Honestly, I can't remember what my approach was, but it worked.  I had to convince the neighbor that signing some of their water rights to me was in THEIR best interest.  They didn't give a rats patootie what I wanted.   I can assure you that whatever I did was not underhanded in any way.  But, it worked.  The neighbor never indicated any regret in signing the rights over to me.  We are still friends.

As you go through each day (personally and professionally), if you become an expert negotiator by always looking at things from the other person's point of view, you can get everything you want and/or need.

How good of a negotiator are you?  Your life and business depends on it!