Okay…we’ve covered some items to consider BEFORE and DURING the negotiation, but what does Coach K recommend for AFTER the negotiation? Read on.
After the negotiation, thank them politely, and leave them promptly. The more you speak, the more information you unwittingly share. Do not refer to the negotiation conversation again. Focus on what has been agreed to, and move on.
In conclusion (don’t you love when people say that, and mean it?)…
Here are my Best Tips for negotiation:
- Assume that your opponent wants this deal as much as you do
- He / She who speaks first loses
- Leave inflammatory language out
- Follow your statements with questions
- Offer concessions, not confessions
- Know your walk-away number
- Be just as polite and upbeat walking away as you would be when accepting a deal with great terms
- Focus on Facts and Be Firm
The rhythm associated with that final tip will help set the tone for all your future negotiations. It’s actually a good rule for ALL business conversations.
Focus on facts and be firm.
Firm does not mean rigid, immovable, or devoid of any sense of humor. It means that you are following the admonitions laid out in this piece.
Certain things are – and should be – deal breakers. Don’t allow your ego, or your lack of focus to be one of them.
And… one more thought – Commercial Real Estate is a key component to any economy – Where will a new company set up shop, and create jobs? Where will a growing firm set it’s address? How do I get more people to spend more money in my retail establishment?
When it is time to become better negotiators, it is also time to have a quiet, unrelenting faith in the power that YOU AND I have to impact the economy.
John Klymshyn is an Author, Speaker, Coach, and Master Facilitator. He leads people and groups through the jungle of conversations, from difficult to profitable. His books are available on amazon.com, and he is available to facilitate your executive retreat, your board meeting, your planning session, to teach “Moving Conversations Forward™” to your sales, service and operations teams. He personally coaches leaders, executives, entrepreneurs and any professional interested in pursuing greatness. Visit his website at www.klymshyn.com.
Now, go out and negotiate some profitable Commercial Real Estate deals!
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