Many untrained individuals fail to realize that negotiations is a
"people and relations" technique, and not a "force the other person"
concept. People who enter into a negotiation simply wanting to get the
most he can, without considering the needs of the other side, almost
never gets an optimum result. Trained negotiators realize that it takes
"give and take," and learning the needs of the other side.
An effective negotiator always does his homework about both the overall industry that the negotiation is related to, as well as the specific needs of the party that he is having his discussion with. There is an extremely delicate balance in negotiations, as well. Ask too little and one may be giving up important concessions, which may cost his side lots of money. On the other hand, ask too much, and there are a few possible scenarios. One possibility is that your "opponent" may become frustrated, or feel that you are not negotiating in good faith, or that you cannot possibly be pleased or satisfied, or that if he accepts your terms, it is not profitable and/ or worthwhile to his side. In that scenario, negotiations may break down, or be discontinued completely. Another possibility is that the other side, because of economic pressures or miscalculation, gives in to your "unworkable demands." While the latter may appear great to the negotiating novice, this second scenario is often disastrous because when "push comes to shove," the other side realizes it must "cut corners," and you end up with an inferior result.
In three decades of negotiating, I have found that the most effective technique is to be as honest as possible with your opponent from the beginning of the negotiation. Do not "spring" something on them! An effective negotiator always knows as much as possible about what the other side is capable of doing, what the margins may be, in which areas they may be more flexible, etc. An effective negotiator also realizes that, while nearly everything is negotiable, certain items are far more negotiable than others.
Effective negotiators also understand that the opposition also needs to "win," or the negotiation will not work, in the long run. An understanding of areas that may save the other side money, which might be able to be passed along, is an essential ingredient.
Organizations that want to get the best results in their efforts enter a negotiation by setting their priorities. Which of the items are the most important? What parts might be used as trade offs, if necessary? An organization must have its negotiator enter the process understanding what the budget for the needed service is, and permit a professional negotiator to have a certain amount of flexibility and leeway within preset parameters.
The greatest Real Estate professionals understand, and clearly communicate to their clients, that negotiating requires a degree of give - and - take, and that when both sides feel they've partly won, and are partly unfulfilled, the best long - term results ensue!
Win-win negotiations are the way to go! When both sides walk away satisfied, feeling they received a "good deal" while getting what they needed, and both sides feel they have benefited, the process has the best results. Negotiating should always be done by fewer, not more individuals. When non-professionals get involved in a negotiation, they often mess up the works.
An effective negotiator always does his homework about both the overall industry that the negotiation is related to, as well as the specific needs of the party that he is having his discussion with. There is an extremely delicate balance in negotiations, as well. Ask too little and one may be giving up important concessions, which may cost his side lots of money. On the other hand, ask too much, and there are a few possible scenarios. One possibility is that your "opponent" may become frustrated, or feel that you are not negotiating in good faith, or that you cannot possibly be pleased or satisfied, or that if he accepts your terms, it is not profitable and/ or worthwhile to his side. In that scenario, negotiations may break down, or be discontinued completely. Another possibility is that the other side, because of economic pressures or miscalculation, gives in to your "unworkable demands." While the latter may appear great to the negotiating novice, this second scenario is often disastrous because when "push comes to shove," the other side realizes it must "cut corners," and you end up with an inferior result.
In three decades of negotiating, I have found that the most effective technique is to be as honest as possible with your opponent from the beginning of the negotiation. Do not "spring" something on them! An effective negotiator always knows as much as possible about what the other side is capable of doing, what the margins may be, in which areas they may be more flexible, etc. An effective negotiator also realizes that, while nearly everything is negotiable, certain items are far more negotiable than others.
Effective negotiators also understand that the opposition also needs to "win," or the negotiation will not work, in the long run. An understanding of areas that may save the other side money, which might be able to be passed along, is an essential ingredient.
Organizations that want to get the best results in their efforts enter a negotiation by setting their priorities. Which of the items are the most important? What parts might be used as trade offs, if necessary? An organization must have its negotiator enter the process understanding what the budget for the needed service is, and permit a professional negotiator to have a certain amount of flexibility and leeway within preset parameters.
The greatest Real Estate professionals understand, and clearly communicate to their clients, that negotiating requires a degree of give - and - take, and that when both sides feel they've partly won, and are partly unfulfilled, the best long - term results ensue!
Win-win negotiations are the way to go! When both sides walk away satisfied, feeling they received a "good deal" while getting what they needed, and both sides feel they have benefited, the process has the best results. Negotiating should always be done by fewer, not more individuals. When non-professionals get involved in a negotiation, they often mess up the works.
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