Are you a good negotiator?
Negotiating is something we it constantly in all aspects of our life, from relationships to which path you choose to take on a crowded street.
And of course, negotiation is one of the skills developed by savvy property investors, business people and entrepreneurs
Some people are very good at negotiation, while others simply take what the other party is willing to give them.
What is the difference between those two groups?
The first group knows how to negotiate.
Today I’ll be talking about negotiation with the man who wrote the book on negotiation – in fact, he actually wrote 3 books on the subject – Wayne Berry. Wayne is the CEO of Top Gun Business Academy.
Wayne has probably trained more successful salespeople than anyone else in Australia. So listen to our conversation to learn what you’ve been missing when it comes to negotiation.
Some of the highlights from today’s discussion:
- Life is one big negotiation: most things we want or need are either owned or controlled by other people, so it’s important to be able to negotiate to get what we want.
- Life is easier if you’re a good negotiator.
- There are three leverage points in negotiation:
- The first step of negotiating is to gather all of the information that you think is relevant around the situation.
- Attitude and expectation are great sources of power. Have an attitude that everything’s negotiable is very empowering.
- Common mistakes people make in negotiation:
- Not realizing that everything is negotiable.
- Not doing any planning or preparation for the negotiation.
- Talking too much and not listening carefully.
- Negotiating will require different tactics depending on the personality of the person you’re negotiating with.
- You first need to build rapport and trust to negotiate effectively.
- If you have more options you’ll have more power in a negotiation, so if you don’t have other alternatives, you should create them.
- Concessions should be traded and never given away. Find out what the other party can do for you.
- Sequence of a negotiation:
- Figure out what the other party is likely to want
- Clarify what it is that you want
- Understanding the decision-making process of the other party
- Find out if there are any other parties who will be involved in the decision-making process and involve them early on
Links and Resources:
MUST ATTEND this year: – 2019 National Property & Economic Market Updates – in Sydney, Melbourne and Brisbane
Special offers from Wayne Berry – Online Sales and Negotiation Skills Program
Some of our favourite quotes from the show:
“A thinker has to be sold to, negotiated with in a very, very different way to an outgoing person like you or me, or analytical people need to be sold to differently than creative people.” –Michael Yardney
“If you don’t like the circumstances, change the circumstances.” –Wayne Berry
“We’re not taking advantage of people when we’re doing these negotiations, you shouldn’t feel that way. You’re taking advantage of the situation.” –Michael Yardney
PLEASE LEAVE US A REVIEW
Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes – it’s your way of passing the message forward to others and saying thank you to me. Here’s how.
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.