We began the Al Filippone Associates Master Series On Negotiations this week. Negotiating is essentially the art of inlfuencing or persuading others and there is a lot of psychology involved in negotiating. Here is some of what we learned.
- If you are not communicating directly with the decision maker, the you aren’t really negotiating.
- Communicating directly with the decision maker reduces the risk of misunderstandings.
- Face to face negotiating provides more insight into motivation level, hesitations, etc.
- Taking the time to negotiate in person with the decision maker increases the respect that a client has for your professionalism.
Some other rules to live by when negotiating:
- Work within a range that includes minimums, targets and maximums.
- Stay focused, calm and unflappable
- Understand the issues and empathize but do not let emotions distract you.
- When you give a concession, ask for something in return.
- When you hit an impasse, settle everything else first and then return to it.
- Remain flexible and open to a range of options.
- Always under promise and over deliver.
It was a lively, active group consisting of real estate agents in both our Fairfield and Darien, Ct. locations. A great deal of experience and knowledge was shared and gained by all. Negotiating is a dance, and if you don’t join in with both feet then you are doing yourself and all parties involved a disservice.
What fundamentals of negotiating would you add to our list?
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Much goes into negotiating. Perhaps the most important is LISTENING. We’re often eager too eager to say our thing that we pay scant attention to what is said by our interlocutor. Next is understanding what’s really essential to him/her . That’s not always readily apparent .It allows us then to frame a compromise acceptable to both. That’s the basis of a successful negotiation.