ch 21: Negotiating Skills

Question 1

What is another term give to distributive negotiation?

Answer 1

Sometimes it is called win-lose because of the assumption that one person’s gain is another person’s loss.

Question 2

What type of negotiation attempts to improve the quality of a negotiated agreement by taking advantage of the fact that different parties often value various outcomes differently?

Answer 2

Integrative negotiation

Question 3

What type of individuals enjoy negotiating because it presents an opportunity to win something?

Answer 3

Competitors

Question 4

What is the term given to the tactic when a negotiator overwhelms the other party with so much information that they have difficulty determining what information is important and what is not?

Answer 4

Snow Job

Question 5

What is haptics?

Answer 5

The study of how humans communicate with each other using touch. This includes such actions as handshaking, hugging, kissing, holding hands, and patting one on the shoulder.

Question 6

Should you ever apologize in a negotiation?

Answer 6

Yes, an apology or any other simply act of self-deprecation may be one of the most effective and low cost means to reduce any negative emotions between parties.

Question 7

What is the suggested strategy when working with another agent who also understands the importance of silence?

Answer 7

The best strategy is to restate the offer and repeat the terms.

Question 8

What is it called when a buyer has a nagging feeling that he or she should have offered less money for the property?

Answer 8

Buyer’s remorse

Question 9

What is it called when you seek out the true nature of why the other party is not fully committed to a transaction?

Answer 9

Determining root causes

Question 10

What tactic might a buyer take to speed-up the closing process, but most often works to determent of that buyer?

Answer 10

Waive inspections

Question 11

List five general negotiation tips to follow.

Answer 11

Build rapport
Limit counter offers
Have a positive attitude
Negotiate in person
Identify common ground
Check your emotions

Question 12

Why does the adage, “it doesn’t hurt to ask” not apply in real estate transactions?

Answer 12

Selling a home is an emotional experience for most people and sellers become totally offended when you keep asking for more than what is on the table.

Question 13

What is it called when an offer is made that is not acceptable to the seller, but the seller counters by tossing in some personal property?

Answer 13

Counter offer concessions

Question 14

What is the suggested strategy to take when dealing with counter offers?

Answer 14

It’s best to limit the number of counter offers to just two on each side.

Question 15

What area of study deals with personal space between individuals when communicating?

Answer 15

Proxemics

Question 16

When a deal is dead, what strategy should an agent take?

Answer 16

Develop a resuscitation plan.

Question 17

Silence conveys a sense of:

Answer 17

control and power.

Question 18

What can an appraisal contingency act as for the buyer?

Answer 18

An escape clause

Question 19

What is the tactic called when you act in a way that directly contradicts preconceptions about your negotiation position?

Answer 19

Throw a curve ball

Question 20

What is it called when you make an effort to understand the other party’s objections to a deal?

Answer 20

Determining Root Causes

Question 21

What are the two types of negotiation?

Answer 21

Distributive Negotiation and Integrative Negotiation

Question 22

Summarizing what the other side has said is known as:

Answer 22

paraphrasing

Question 23

What is the common term given to the practice of maintaining everyone’s dignity in a transaction?

Answer 23

Saving Face

Question 24

In a negotiation, what is it called when you compensate a loss of one item with gains from another?

Answer 24

Trade-offs

Question 25

What technique shows your desire to hear what is important to the other party?

Answer 25

Asking open-ended questions

Question 26

What type of individuals base decisions on moral standards and principles?

Answer 26

Righteous Individuals

Question 27

In a negotiation meeting, an apology or simple act of self-deprecation is known as a:

Answer 27

diplomatic gesture.

Question 28

What is the name given to individuals who are eager to close a deal by doing what is fair and equal for all parties involved?

Answer 28

Compromisers

Question 29

Getting a counteroffer:

Answer 29

strengthens the transaction by showing that the other party is committed to the deal.

Question 30

What type of person is short on patience and long on demands?

Answer 30

Drivers

Question 31

During the negotiation process, what technique is used to summarize those items that both parties agree on?

Answer 31

Identifying common ground

Question 32

What is it called when you make an effort to understand the other party’s objections to a deal?

Answer 32

Determining Root Causes

Question 33

What is the common term given to the practice of maintaining everyone’s dignity in a transaction?

Answer 33

Saving Face

Question 34

“Walk In Their Shoes” is a negotiation strategy that means one should be:

Answer 34

open to other’s views and attempt to approach an issue from the perspective of others.