South American Real Estate News

How good of a negotiator are you – Can you pass this test

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negotiating skillsIf you want to know how good or bad you are in negotiation, you have to evaluate yourself. Ask yourself the following questions and reflect.

    1. Do you believe that everything is negotiable all the time?
    1. Do you plan and do you have a clear strategy before going into a negotiation?
    1. Do you know your BATNA or Best Alternative to a Negotiated Agreement?
    1. Do you separate people from the problem?
    1. Do you look for multiple solutions?
    1. Do you always aim at achieving a win-win outcome?
    1. Can you adjust your negotiation plans based on unanticipated moves by the other party?
    1. Do you communicate carefully and effectively?
    1. Do you use active listening and questioning skills?
    1. Do you ensure that your negotiation decisions are based on results and not on emotions or pressure?
    1. Are you aware of both your own and the other party’s personality style?
    1. Can you deal with difficult people effectively?
    1. Are you aware of the dirty tricks and gambits that are often used in negotiations?
    1. Do you know exactly when and how to close a negotiation?
    1. Do you always prepare a closing checklist?
    1. Do you do your best never to damage the relationship with the other party?

How many times did you answer yes? If you answer yes to all or most of the questions, then you are doing very good. Reflect on your no answers and find some rooms for improvement. Acknowledging your weaknesses is a huge leap towards success.

Things to Do Before, During and After an Effective Negotiation

Knowing what to do before, during and after a negotiation will help guarantee your success. Knowing these things will help you understand what the other party is expecting. Sticking to these things will help you remain professional in the entire negotiation process.

Before the Negotiation

    1. Research the position or the person you are negotiating with. Find out what he or she expects as compensation or price.
    1. Know your own compensation or price.

During the Negotiation

    1. Listen. This is the most important part of the actual negotiation. Use active listening.
    1. Understand and adjust to the situation. Put yourself in the other person’s shoes so you can clearly understand how he or she sees and benefits from the negotiation.
    1. Be open-minded to others point of views.
    1. Be alert for unexpected opportunities. These likely present themselves during the conversation and consider this as additional options for you.
    1. Look professional. Be mindful of how you dress and how you act.
    1. Clarify and simplify when you explain or ask questions.
    1. Always come up with a win-win situation

After the Negotiation

    1. Clarify things in writing.
    1. Confirm a new timetable as soon as possible, if applicable.
    1. Look back and assess what took place during the negotiation, and learn from your experiences.
  1. Strengthen your negotiation skills by pointing out your weaknesses and improving yourself. Maintain your strengths in negotiation.

By Marcel Garraghan 

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About Gateway to South America

Gateway to South America was established in 2006 as a single office in Buenos Aires. The company has since expanded into a vibrant regional network, servicing the Southern Cone clients in Argentina, Brazil, Chile, Paraguay, Peru and Uruguay with professional real estate marketing services. If you enjoy reading our news site please share it on your social media below.

Post available in: English


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