We recently began the Al Filippone Associates Master Series On Negotiations. Negotiating is essentially the art of influencing or persuading others and there is a lot of psychology involved in negotiating. Here is some of what we learned.
- If you’re not communicating directly with the decision maker, then 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.
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What fundamentals of negotiating would you add to our list?
