Negotiating to Buy Commercial Property

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WHENEVER you find yourself with Power during a negotiation, you are then in a position to have far more control over the ultimate outcome.

Negotiating requires Strategy & TacticsHowever, as you can appreciate, Power can take on several forms. And just to give some examples, you could have the …

  • Power of Competition,
  • Power of Expertise,
  • Power of Legitimacy,
  • Power of Investment,
  • Power of Persistence and
  • Power of Risk Taking.

But most people don’t seem to realise that the greatest of all is the Power of Knowledge. The best time best time for you to compile that Knowledge is before the negotiation formally begins.

As such, here are a a few suggested questions you might care to use to help you in gathering some key information prior to the Negotiation.

  1. Is the other party under any time or money pressures?
  2. Are you dealing with the decision maker?
  3. Are they seasoned negotiators?
  4. How much do they know about your needs?
  5. Have you fully identified what your needs are?
  6. Can they exploit any areas of weakness?
  7. Does this party want a quick sale, or likely to tough it out?

Anyway, if you feel you’d like to discover some more about top Negotiating strategies … you may care to take a look at some further material I have put together for you.

Bottom Line: Basically, it comes down to doing your Prep-work. Because the more you actually know about the other party in their capabilities and aspirations … the better equipped you’ll be to achieve what you want out of the Negotiation.

 

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