It would be fair to say I’ve lost count of the number of times people ask me about the secrets for a successful negotiation.
And so, you might care to watch this short video … to gain a quick understanding of the three key elements which underpin every negotiation.
Because, once you know how to negotiate this will provide you with your ultimate passport to success.
You see, the success of every negotiation is based upon these elements.
However, you also need to master various strategies, tactics and nuances in order to truly become a Master Negotiator.
But the good news is all of these are teachable skills — which you’re able to quickly and easily learn, with little or no effort.
Naturally, over a career of 40+ years … you tend to see and use virtually every negotiating technique there is.
And one by one, I have tested them and noted down those that work.
To the point where you can now read: Your A to Z of Negotiating.
And perhaps you would let me walk you through the very first item … being “agendas”.
Everyone going into a negotiation will have an agenda.
But the mistake most people make is in assuming that your agenda is the same as theirs.
You know, in all my years as a negotiator I’ve never seen two identical agendas.
Sure, there may be a few common items — but they never appear in the same order of importance, on both agendas.
As such, the no. 1 item on their agenda may well be no. 7 on yours.
Once you know what’s on their agenda you are then in a far stronger position to trade your “lesser” items, on the way to achieving your ultimate objective.
In fact, the biggest mistake you can ever make is to allow your negotiation to reach the point where price becomes the only item under discussion.
From there on, one party has to lose … in order for the other to win.
As you will soon realise, there are only four outcomes for every negotiation …
Therefore, your aim ought be to take control of the negotiation and steer it towards a win-win result.
That way, it ensures the deal will ‘stick’ … while the documentation is being prepared.
Subscribe & don’t miss a single episode of michael yardney’s podcast
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
Need help listening to michael yardney’s podcast from your phone or tablet?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
Prefer to subscribe via email?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.