Communication and negotiation Flashcards
What techniques can you employ to increase the effectiveness of your communication skills?
I think listening is a crucial part of being a good communicator. Also body language particularly in person but also in online meetings, people tend to get distracted in teams meetings. Sometimes its better to pick up the phone instead of exchanging many emails
What are some of your negotiation techniques?
Being exceptionally prepared before going into a negotiation can give you the upper hand, knowing all the facts and gathering information. Understanding your “opponents” objectives can also help when there are things you are willing to compromise on.
What did you learn from the UCEM workshop on communication and negotiation?
The interactive workshop discussed communication skills and negotiation techniques
Can you talk me through an example of one of the negotiations you took part in for the sports bar operator?
A site in Leeds was presented to us at £175k rent per annum, and whilst our clients criteria was to cap rent at £100k for a site after discussing further we decided we would be willing to compromise at £125k per site due to the site being in a good location for the operating model. Unfortunately the landlord and their agent werent willing to budge due to other interest.
What sources of data you refer to when presenting to Metro Bank on the hotel, pub and restaurant market?
There is a data provider called Smith Travel Research (STR) that tracks KPI information for hotels. I presented on how these are used to create indices that help hotel owners compare there KPI performance with a competitor subset.
- What RICS publication covers the practice of negotiation?
RICS Real Estate Agency and Brokerage, 3rd edition
- What does the RICS publication covering negotiation say about negotiations and offers?
You should keep your client informed of your negotiations and continuously seek their instructions and submit all amended and additional offers to them.
