Communication and negotiation Flashcards
What do you consider to be an example of good communication?
Communication needs to be clear, precise and goal oriented in a business setting. Taking into account any cultural differences.
How do you ensure that the frequency of communication is acceptable? What are the different ways you can communicate with clients?
This needs to be agreed prior to entering into contract with the client.
Verbally, written, visually through graphics.
When would you choose to use written communication over verbal communication or a face to face meeting?
Wirtten communication can be used in formal letter and notices.
Verbal communication can be used on phone calls
Face to face meetings can be used when not in a pandemic, over zoom or for negotiations in person.
What barriers to effective communication have you come across? Tell me about your negotiating style.
Barriers to communication can be difference in understanding of property terms/ NHS terms. Language barriers
Pandemic and inability to meet.
Distance
My negotiating style is to always shoot for a win win agreement, I make sure I agree client objectives and negotiation strategy before hand so I know when I can concede or not compromise.
Collaborative and partnership
Why is negotiation important?
It is the best way to determine market value
To achieve a win win for both sides
Interface between a buyer and seller.
Test ideas
What can be a barrier to negotiating effectively?
Distance
Lack of background information
Mis or poor communication
Emotional outbursts
What would be a good way to facilitate negotiations in your role?
Scheduling calls and meetings between parties
Providing evidence to support my argument
Listening and trying to understand the other sides position
Why do you consider that discussing matters in person might be effective? What are the alternatives to this?
It is easier to come to a quicker and equitable agreement, if done correctly it can lead to better relationships post agreement.
Video calls
Why can these alternatives present challenges?
They loose the human touch and technical issues can derail the best laid plans.
Tell me about how you communicate effectively (and responsibly) using social media. How do you use visual media to communicate with clients, e.g. before & after photographs?
By conveying that the view are my own and not of my company. Stay away from posting controversial views that cause harm. Spent time working on presentation skills.
When writing a report, it is good to acquire good quality picture, include graphs and when you can provide videos which can work better than text in some cases.
How and why do you pre-agree boundaries?
Perparing by gathering all the facts of the case and highlighting the benefits and risks of different agreements. Doing a scenario analysis to compare agreements and presenting it to the client. This is done to ensure the client and I are on the same page and avoid making the mistake of prejudicing my clients position
Level 2 Tell me about how you conduct yourself in negotiations. Tell me about how you ensure good communication.
I stay calm collected, looking for areas of middle ground which can help build the relationship between both parties. I create a constructive environment for negotiations. I make sure my communication is clear with my voice by practicing public speaking etc.
Level 2 Tell me about an example of when you have negotiated effectively. Tell me about an example of when you have communicated effectively. Tell me about your negotiating style.
I negotiated effectively at Havant, after agreeing the negotiation strategy with my client. I successfully set up meetings where we discussed both our comparable evidence. I knew we had more by way of comparable evidence due to being a large pharmacy landlord and due to the sheer power of our evidence we were able to reach a settlement we believe was reflective of the market value.
Level 2 Give me an example of when you have communicated using a complex written report. At Havant, explain your negotiation strategy.
I wrote a report on the market value of an office in the city of London, I compiled the comparable evidence list using pictures of the buildings and comments on their comparison to the property being valued. I also included graphs for market commentary about the state of the wider and local markets.
Havant -
Analyzing the pharmacy data for the property,
Patient list size had increased
We offered very good terms which benefited the tenant. (conceded on 3 yearly rent review to 5 yearly)
And provided break rights for both parties.
Tenant offered the passing rent - £57,000
I offered £92,000 based on the new PLS and national increases of rate per PLS supported by evidence.
Level 2 What did this achieve for your client?
We achieved market rent for the property. Win-Win because the pharmacy continued benefiting from the surgery co-location.
