"Let us never negotiate out of fear, but never fear to negotiate"
John F. Kennedy
Negotiations is method of resolving differences between people. In real estate much of our work revolves around resolving differences, thus our ability to negotiate effectively is an essential skill. How you negotiate on a daily basis determines how much you make, what benefits/concessions you get, and how easy it is to get your offers approved. However, recent research has shown that a full 20% say they avoid it completely!
So how do we address the negative feelings we usually get when negotiating:
1. Determine the importance of the relationship with whom you are about to negotiate before you start. Also, determine the outcome of this negotiation. Keeping this in mind will help you determine the best negotiation strategy and will keep you focused on your goals. Above all, it will also help you from falling into the "trying to keep everyone happy".
2. Get to know how YOU respond to conflicts. Generally there are 5 ways we respond to conflicts; compromise, compete, avoid, accommodate and collaborate. Knowing how you respond to conflict will help you make the necessary corrections to the most appropriate response in the circumstances.
3. Lear to use Win/Win Strategies. Using this type of strategy the interests of the parties are explored so that the best solution for both parties can be obtained. For example, exploring interests, brainstorming for more options, and knowing other alternatives to a negotiated settlement are ways to implement this strategy.
Remember that almost everything we do involves some kind of negotiation. If you think about it, you’ll realize that you negotiate all the time, every day. The key is to become better negotiators. For those who are serious about their business I highly recommend "How To Become a Better Negotiator"
which will help you tremendously. I have read it and found it to be extremely helpful and easy to read. Get it Now!