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Negotiating a Win-Win

Negotiating with different people is not always the easiest thing to do. There are a lot of factors to consider; like what it is that both parties are trying to attain, and the temperament of each party involved. In Ki Gray’s article, “Avoiding Sour Negotiations”, he breaks it down step by step.
Tip 1: “Don’t sweat the small stuff“. Many times people will overlook the big picture and focus in on the little things. Don’t do this; and if you’re a realtor, don’t allow your clients to do this. Have you ever heard something like this from a client, ” I really like this condo/home/whatever, it’s a great neighborhood but the unit doesn’t come with a washer and dryer and that’s what I really was looking for”. Before you pull your hair out, remember that your client has simply lost track of what’s important and do your best to help them to remember.
Tip 2: “Negotiate other issues“. This one is directed towards realtors. Other than the price of a property there are other issues that may be negotiated. For example the date of closing or even closing costs. Pay attention to both party’s situation to see what’s best for both.
Tip 3: “Offer packages“. When you’re negotiating bring as much to the table as possible. For example, if you’re negotiating the repairs of a property don’t have several meetings about what you would like done. Instead compile a list and have one meeting where you can have room for trade-offs.
Tip 4: “Dealing with threats“. Not always but sometimes people will use termination as a threat. In this situation you may have two natural reactions, to cave or to end the negotiation. Both are understandable, but the best thing to do is to hold firm on your end. Stress your strong points and if that doesn’t work then you have to make the best decision for you or your client.
Tip 5: “Know when bargaining zones do not overlap“. Sometimes you just have to come to the realization that the negotiation is not going to work. Maybe one party is not willing to compromise as much as the other. In this case just let it go and move on.

This entry was posted on Tuesday, February 24th, 2009 at 11:54 am and is filed under Agent Talk. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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