The
Top 10 Win/Win Strategies for
Negotiating Success
In
today's competitive markets, your sellers
and buyers need your superb negotiating
skills. NAR found consumers rated negotiation
skills one of the top 5 reasons to choose
an agent. Here are my top 10 strategies
for success with your negotiations:
1.
PREPARE: Research what is important
to the other party. If you know the other
person's needs and objectives, you are able
to offer some ways that will result in a
win/win. Think through your own options
and determine your BATNA=Best Alternative
To a Negotiated Agreement.
2.
ASK LOTS OF QUESTIONS: A good negotiator
begins by making sure their assumptions
about the needs of the other party are accurate.
By asking questions, you often will uncover
information that you were unaware of. Use
questions like: 'How Can this work?'
'What would be fair?' 'In
your opinion,...'
3.
LISTEN: Everything the other party
says is an opportunity to come closer together.
Don't move too quickly to the solution.
There is power in silence. After you ask
a question, be quiet and wait. Be patient.
Usually the other party will the gap and
you may get additional information. He who
speaks first loses.
4.
REFLECT BACK: We often assume we
know what the other party meant. By reflecting
back, we verify the words meant the same
to them as to us. A good way to ask is to
begin with: 'So I can better understand
your position.....'
5.
NO ULTIMATUMS: Don't offend or
threaten. If you put them in a defensive
position, they are likely to dig in their
heels and become fixated on their position.
Instead, calm their fears and search for
win/win outcomes.
6.
ANSWERING IS A SKILL: We've already
determined that silence gets concessions.
A good response to any question is: 'Why
do you ask?' Manage the information
you answer with to minimize tipping your
hand.
7.
POSITION YOURSELF: Never tell the
other party you REAL bottom line. Ask for
more than you need. Give yourself wiggle
room and then you can concede, make them
feel they have gained and still achieve
your objective. Then, they can have the
last word, which also makes them feel good.
8.
WHEN YOU CONCEDE SOMETHING, ASK FOR SOMETHING
IN RETURN: This is often overlooked
as an opportunity to gain something back
or additional. Most people do want to be
fair and when you concede, it puts them
in a friendlier mental state. Ask for something
that will benefit your needs.
9.
HAVE TIME ON YOUR SIDE: This is
sometimes tough. Remember 80% of concessions
are made in the last 20% of the time. Never
tell the other party your true deadline.
Have patience when possible so they can
begin to feel the stress as the deadline
approaches. At that point, they are more
likely to make concessions.
10.
BE INTEREST BASED VS. POSITIONAL:
Always remember it is about the situation
not the people. And, at the end of the day,
you are not the one that is homeless. So,
look for the win/win. Bring both sides together
by talking about their joint, shared commitment.
After all, the buyer wants to move in and
the seller wants to move on. If you can
keep them looking to that commitment, rather
than the details, often creativity will
prevail and everyone can get what they want!
As
many markets soften, these skills will become
even more important. On all of your presentations,
talk with your clients about this. It will
differentiate you from most other agents
and give you an advantage. |
