Before you sit down at the table, you have to get ready. I can’t emphasize this enough. Plus it seems pithy. “Be Ready”. It seems really obvious.
It is not. Allow me to ask you …
It’s two parties sitting , both desiring different things and finally coming to an arrangement. Notice these 3 words:
Buying Real Estate
Wanting Different Matters. That means, you’re entering a battle situation. Consider that. That is vital.
Now… how can the words”be ready” sound for you? It is not a beat-up cliché professionals throw round , is it? It’s now ten times more significant on your own head. Conflict.
Now you are probably getting pictures of troops, or law courts or soccer stadiums on mind. And if you weren’t earlier, you need to now. Great purchase vancouver commercial real estate. Now we are prepared to speak about”being ready”. You could be asking yourself why I did this. It is simple. Because within this battle of discussions… you need to know… it’s YOU who is starting the battle. The vendor is requesting THIS cost and you are coming back together with THAT cost.
And before you begin the battle, you have to ASK QUESTIONS. You have to collect as much intellect as possible. Because as soon as you initiate the battle… there is not any going back.
These are the 3 things you have to understand about discussions.
- Negotiating is battle
- You initiate the battle
- As soon as you begin it, you can’t return.
So… here are the NINE items you have to have — apparent on mind — until you walk into a situation such as this.
- Worst Case Scenario
- Finest Case Scenario
You have to understand where your limitations are. What is the price that you want from the deal, what is the cheapest price that you’ll take before you walk off?
- Time heals all wounds
If a person walks off, let a couple of days pass, and reunite in the table. Should you ever see labor unions negotiating, you will see they are ALWAYS walking away and coming backagain. It is just another approach. That is it.
- It is not private
Who cares whether he yells and yells? Provided that you get exactly what you would like.
- Assume they are acting
I am not kidding. Because the majority of the time… they’re. They are putting on a front as far as you’re.
- External Advisors
That is invaluable. A pair of new eyes will provide you strategies and strategies you will not ever think of — since you are in the thick of it.
- Prepare yourself beforehand
- Exercise and role-play.
That is it.
When you input the battle zone, and people are yelling and swearing… you have to keep your composure. Oh… and one final thing. If you are not in there for fifteen minutes… you are not negotiating.