Commercial Property Negotiating: The Framework for a Great Deal (Part 2)

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More questions you need to ask along the wayLAST WEEK, we made a good start by scoping the first 8 questions you need to keep asking yourself … as part of your prep work for each Negotiation.

So let’s pick up from where we left off — here your next 6 questions. And you’ll recall that before (and during) your negotiations, you need to be asking: ARE YOU …

  1. Offering Solutions?

    You need to understand that it’s certainly not one-way traffic. Part of your role is to come up with solutions.

    In every negotiation, you ought to try making a guess as to what objections, issues, and problems the other party is going to come up with. Because, once you do that … you can propose alternatives, solutions, and flexible outcomes that they may well not have even considered.

  2. Properly Anticipating?

    What you’re trying to anticipate here are the other party’s … reactions, objections, and responses.

    For each possible objection or reaction, list what you might be able to use as a response. Try and come up with alternatives and examples, to counter the other party’s potential negatives.

  3. Seeking out Win-Win Resolutions?

    When it’s all said and done … Negotiating is really nothing more than give and take by both parties.

    What you’re seeking to do is trade your least important items, for those that will really help you achieve your desired outcome.

  4. Proposing Options, NOT Ultimatums?

    You should only use an ultimatum as a last resort — only when you can back it up and carry it through, and the other side knows that. Even then, you are probably better to seek options and alternatives, which will lead to a positive outcome for both parties.

    Whenever the only answer simply is YES or NO … someone has to lose.

  5. Staying with the Big Picture?

    Don’t allow yourself to end up debating just ONE point or issue. Because, to resolve that single issue … will again require someone to lose.

    To achieve your desired outcome, always make sure you have a number of Variables under negotiation — all at the same time.

    That way, you can float ‘trial balloons’ simultaneously — in an attempt to trade what are minor issues for you.

  6. Adopting Persuasive Rationale?

    Think about what you need to do (or say) to logically convince the other side — without the need for confrontation.

    You might not necessarily win every point; but they will have difficulty finding flaws in your logic. Whenever they are ambivalent on a point that’s important to you … your logic will win the day.

Bottom Line: You’re now about 70% of the way through your prep-work for a successful Negotiation. And after next week, will have the complete framework to refer to.

Anyway, feel free to leave any comments or questions you may have below … so that I can answer them personally.

 

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