Characteristics Of A Good Negotiatior

Negotiating is an art, not a science.   Below are common characteristics of good negotiators.

     1. Trustworthiness – A good reputation equips you with a lot of leverage.

     2. Preparation – Be prepared with the facts, statistics and whatever you need to provide yourself with a competitive  edge. 

     3. Manage Expectations – Under promise and over deliver.

     4. Awareness – Manage your emotions and be aware of your counterpart’s style.  Adapt to them to build comfort and trust.  Treat others as they like to be treated.

     5. Creativity – Sometimes consumating a deal entails changing it’s framework or flexibility with it’s terms.

     6. Compensate for Weaknesses – But never reveal them and take advantage of your counterpart’s.

     7. Assert Your Client’s Position – Assertive but not aggressive.  Focus on your client’s needs and wants.  When you are presented with a contrary position to that of your client’s, acknowledge it and move forward.

     8. Win/Win (Collaborative Approach) – A destroyed party to negotiations has no reason to complete a deal.

     9. Communication – You cannot communicate too often with a client.

     10. Ask For More – Open negotiations with more than you expect.  You just might get it.

     11. Practice – You can develop a feel for what to do in almost every negotiating experience.

Bonus:  Analyze Each Experience – The same issues often repeat themselves, especially in real estate.  Learning from them will improve your skills.

Many people believe that great negotiators are “smooth” talkers.  In actuality, the best negotiators are great listeners. 

What characteristics ring true for you?

Which are those that you should work on?

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